Cornell Pochily Investment Advisors Inc. Sells 2,904 Shares of Starbucks Corporation $SBUX

Key Points

• Cornell Pochily Investment Advisors Inc. sold 2,904 shares of Starbucks, reducing its stake by 32.3%, and now holds 6,075 shares worth $557,000.
• Starbucks reported a quarterly EPS of $0.50, missing estimates, but had a revenue of $9.46 billion, exceeding expectations with a 3.8% year-over-year increase.
• The coffee company announced an increase in its quarterly dividend to $0.62, representing a 2.9% yield, and has a payout ratio of 105.17%.

Cornell Pochily Investment Advisors Inc. trimmed its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 32.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,075 shares of the coffee company's stock after selling 2,904 shares during the period. Cornell Pochily Investment Advisors Inc.'s holdings in Starbucks were worth $557,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SBUX. Napa Wealth Management bought a new position in Starbucks in the 1st quarter worth approximately $1,435,000. Personal CFO Solutions LLC increased its position in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the period. First Manhattan CO. LLC. increased its position in Starbucks by 33.1% in the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after buying an additional 111,015 shares during the period. Fox Run Management L.L.C. bought a new position in Starbucks in the 1st quarter worth approximately $998,000. Finally, Norden Group LLC increased its position in Starbucks by 66.1% in the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after buying an additional 12,027 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $86.72 on Friday. The stock's fifty day simple moving average is $87.72 and its 200 day simple moving average is $88.69. The firm has a market cap of $98.57 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 4.15 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 announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current 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 is an increase from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Bank of America boosted their price objective on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $104.00.

Starbucks Company 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.

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