Harbour Investments Inc. Trims Position in Starbucks Corporation $SBUX

Harbour Investments Inc. cut its position in Starbucks Corporation (NASDAQ:SBUX) by 5.3% in the second quarter, HoldingsChannel.com reports. The firm owned 12,784 shares of the coffee company’s stock after selling 721 shares during the quarter. Harbour Investments Inc.’s holdings in Starbucks were worth $1,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks in the second quarter worth $25,000. Chelsea Counsel Co. purchased a new position in Starbucks during the second quarter valued at $26,000. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter valued at $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Bank of America raised their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $102.76.

Starbucks Stock Up 1.2%

SBUX stock opened at $85.36 on Friday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a fifty day simple moving average of $85.72 and a two-hundred day simple moving average of $87.49. The firm has a market capitalization of $97.03 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 4.17 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.