Trading Report: The Exxonmobil Investment Management Inc. TX cuts its investment of stake in Starbucks Corp. (SBUX)

The Exxonmobil Investment Management Inc. TX cuts its investment of stake in Starbucks Corp. (SBUX)

Exxonmobil Investment Management Inc. TX decreased its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,475 shares of the coffee company’s stock after selling 4,715 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Starbucks Corp. were worth $20,274,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Farmers National Bank bought a new stake in shares of Starbucks Corp. during the second quarter worth about $101,000. Cascade Investment Advisors Inc. bought a new stake in shares of Starbucks Corp. during the second quarter worth about $107,000. Valley National Advisers Inc. raised its stake in shares of Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Starbucks Corp. during the second quarter worth about $123,000. Finally, Proficio Capital Partners LLC increased its position in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares in the last quarter. 69.08% of the stock is owned by institutional investors.

Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during midday trading on Friday, reaching $57.43. 3,228,848 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $54.05 and a 200-day moving average price of $55.23. Starbucks Corp. has a 52-week low of $50.84 and a 52-week high of $62.54. The stock has a market cap of $83.58 billion, a P/E ratio of 30.23 and a beta of 0.77.

Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm earned $5.71 billion during the quarter, compared to analyst estimates of $5.68 billion. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Analysts forecast that Starbucks Corp. will post $2.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, November 15th. This is a positive change from Starbucks Corp.’s previous quarterly dividend of $0.20. Starbucks Corp.’s dividend payout ratio is 52.63%.

SBUX has been the topic of a number of recent research reports. cut their price target on shares of Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, September 28th. RBC Capital Markets cut their price target on shares of Starbucks Corp. from $68.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 19th. Macquarie upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 14th. Deutsche Bank AG cut their price target on shares of Starbucks Corp. from $67.00 to $59.00 and set a “hold” rating on the stock in a report on Tuesday, November 1st. Finally, Robert W. Baird restated an “outperform” rating on shares of Starbucks Corp. in a report on Thursday, September 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.72.

About Starbucks Corp.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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