Starbucks Corporation $SBUX Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 161,034 shares of the coffee company’s stock after selling 2,927 shares during the period. Starbucks makes up 1.5% of Jacobs & Co. CA’s investment portfolio, making the stock its 20th largest position. Jacobs & Co. CA’s holdings in Starbucks were worth $14,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Napa Wealth Management acquired a new position in shares of Starbucks in the 1st quarter worth approximately $1,435,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Starbucks in the 4th quarter worth approximately $285,000. Czech National Bank grew its position in shares of Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Finally, First Manhattan CO. LLC. boosted its position in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after purchasing an additional 111,015 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $81.90 on Friday. The business’s fifty day moving average price is $90.45 and its two-hundred day moving average price is $90.79. The company has a market capitalization of $93.10 billion, a P/E ratio of 35.30, a PEG ratio of 4.92 and a beta of 1.00. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. TD Securities restated a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. Evercore ISI restated an “outperform” rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Barclays boosted their price objective on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

About Starbucks

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.