OMC Financial Services LTD Has $2.10 Million Stock Position in Starbucks Corporation $SBUX

OMC Financial Services LTD reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.6% during the 2nd quarter, Holdings Channel reports. The fund owned 22,902 shares of the coffee company’s stock after selling 375 shares during the period. Starbucks makes up about 0.9% of OMC Financial Services LTD’s investment portfolio, making the stock its 29th largest position. OMC Financial Services LTD’s holdings in Starbucks were worth $2,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP raised its position in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Nuveen LLC acquired a new position in Starbucks during the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. raised its holdings in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter worth $817,759,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SBUX. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $105.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research note on Monday. Cowen reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Barclays lifted their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.60.

Starbucks Trading Up 1.6%

Shares of NASDAQ SBUX opened at $85.90 on Wednesday. The firm’s 50-day moving average price is $85.42 and its 200-day moving average price is $87.40. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $97.64 billion, a P/E ratio of 37.03, a P/E/G ratio of 4.24 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the company posted $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued 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 2.9%. 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.