Hazlett Burt & Watson Inc. Has $68,000 Position in Starbucks Corporation $SBUX

Hazlett Burt & Watson Inc. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 27.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 755 shares of the coffee company’s stock after selling 280 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Starbucks were worth $68,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the 1st quarter valued at about $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. TD Securities reissued a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Guggenheim increased their price objective on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, Citigroup lowered their price objective on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.96.

Starbucks Trading Up 2.0%

Shares of NASDAQ SBUX opened at $80.03 on Tuesday. The stock has a fifty day simple moving average of $86.29 and a two-hundred day simple moving average of $87.75. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market cap of $90.97 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 3.89 and a beta of 1.01.

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

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

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.