Newbridge Financial Services Group Inc. Sells 7,192 Shares of Starbucks Corporation $SBUX

Newbridge Financial Services Group Inc. lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 70.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,081 shares of the coffee company’s stock after selling 7,192 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Starbucks were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SBUX. Cape Investment Advisory Inc. grew its position in Starbucks by 2.9% during the second quarter. Cape Investment Advisory Inc. now owns 14,559 shares of the coffee company’s stock valued at $1,334,000 after buying an additional 405 shares during the period. Advisory Services Network LLC boosted its stake in shares of Starbucks by 16.4% during the 2nd quarter. Advisory Services Network LLC now owns 65,505 shares of the coffee company’s stock worth $5,840,000 after acquiring an additional 9,243 shares during the last quarter. Asset Dedication LLC grew its position in shares of Starbucks by 24.4% during the 2nd quarter. Asset Dedication LLC now owns 14,252 shares of the coffee company’s stock valued at $1,306,000 after acquiring an additional 2,792 shares during the period. Tyler Stone Wealth Management purchased a new stake in shares of Starbucks in the 2nd quarter worth $202,000. Finally, Semper Augustus Investments Group LLC raised its holdings in Starbucks by 3.2% in the 2nd quarter. Semper Augustus Investments Group LLC now owns 239,081 shares of the coffee company’s stock worth $21,907,000 after purchasing an additional 7,379 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $85.40 on Tuesday. The firm has a market cap of $97.11 billion, a P/E ratio of 52.07, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a 50 day simple moving average of $84.06 and a two-hundred day simple moving average of $87.69.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.Starbucks’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s payout ratio is 151.22%.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen reissued a “hold” rating and set a $84.00 price target on shares of Starbucks in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 8th. 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, October 20th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Barclays reduced their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares in the company, valued at approximately $4,513,160. This represents a 28.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

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.