Huntington National Bank Sells 2,552 Shares of Starbucks Corporation $SBUX

by · The Markets Daily

Huntington National Bank reduced its holdings in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 3.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 73,927 shares of the coffee company’s stock after selling 2,552 shares during the period. Huntington National Bank’s holdings in Starbucks were worth $6,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Game Plan Financial Advisors LLC bought a new position in Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. bought a new position in Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC bought a new position in Starbucks during the first quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its position in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks during the first quarter worth $29,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Barclays dropped their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Finally, Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Read Our Latest Stock Report on Starbucks

Starbucks Price Performance

Shares of SBUX stock opened at $79.60 on Wednesday. The stock’s fifty day simple moving average is $84.19 and its 200 day simple moving average is $87.50. The firm has a market cap of $90.48 billion, a price-to-earnings ratio of 48.54, a P/E/G ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data 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 negative return on equity of 31.84% and a net margin of 4.99%.The company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is 151.22%.

Starbucks Company Profile

(Free Report)

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.

See Also

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