Maple Capital Management Inc. Sells 694 Shares of Starbucks Corporation $SBUX

Maple Capital Management Inc. trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,474 shares of the coffee company’s stock after selling 694 shares during the period. Maple Capital Management Inc.’s holdings in Starbucks were worth $502,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new stake in Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. purchased a new stake in shares of Starbucks in the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% in the 1st 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 during the period. McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter valued at $29,000. Finally, Nova Wealth Management Inc. grew its holdings in Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $86.42 on Wednesday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The business has a 50 day simple moving average of $83.79 and a two-hundred day simple moving average of $87.56. The stock has a market capitalization of $98.23 billion, a PE ratio of 52.70, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is 151.22%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday, August 12th. Royal Bank Of Canada set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Finally, Barclays lowered their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.50.

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.