Curbstone Financial Management Corp Sells 850 Shares of Starbucks Corporation $SBUX

Curbstone Financial Management Corp cut its position in Starbucks Corporation (NASDAQ:SBUX) by 6.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,676 shares of the coffee company’s stock after selling 850 shares during the quarter. Curbstone Financial Management Corp’s holdings in Starbucks were worth $1,070,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new position in Starbucks in the second quarter worth about $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the first quarter worth about $27,000. Chelsea Counsel Co. bought a new position in Starbucks in the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks in the first quarter worth about $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 1.2%

Shares of NASDAQ SBUX opened at $85.36 on Friday. The business’s 50 day moving average price is $85.72 and its 200 day moving average price is $87.49. The firm has a market cap of $97.03 billion, a P/E ratio of 36.79, a P/E/G ratio of 4.17 and a beta of 1.01. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s quarterly 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. As a group, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is currently 105.17%.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. Sanford C. Bernstein upped their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Cowen restated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday. Finally, Loop Capital set a $165.00 price objective on shares of Starbucks in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.76.

Starbucks 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.