Murphy Capital Management Inc. Has $262,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Murphy Capital Management Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,135 shares of the coffee company’s stock after selling 265 shares during the period. Murphy Capital Management Inc.’s holdings in Starbucks were worth $262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First American Trust FSB bought a new stake in shares of Starbucks in the 2nd quarter valued at $212,000. Loudon Investment Management LLC increased its position in shares of Starbucks by 0.4% in the 1st quarter. Loudon Investment Management LLC now owns 44,838 shares of the coffee company’s stock valued at $3,333,000 after buying an additional 175 shares in the last quarter. Cipher Capital LP bought a new stake in shares of Starbucks in the 4th quarter valued at $2,261,000. Hamel Associates Inc. increased its position in shares of Starbucks by 2.6% in the 1st quarter. Hamel Associates Inc. now owns 53,480 shares of the coffee company’s stock valued at $3,976,000 after buying an additional 1,375 shares in the last quarter. Finally, Centric Wealth Management increased its position in shares of Starbucks by 3.2% in the 2nd quarter. Centric Wealth Management now owns 9,873 shares of the coffee company’s stock valued at $828,000 after buying an additional 305 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

In other news, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. Insiders sold a total of 133,738 shares of company stock valued at $11,291,327 in the last 90 days. 3.98% of the stock is owned by corporate insiders.

A number of research firms recently commented on SBUX. Cowen set a $93.00 price objective on shares of Starbucks and gave the company a “hold” rating in a research report on Friday, July 26th. OTR Global upgraded shares of Starbucks to a “positive” rating in a research report on Tuesday, July 16th. Oppenheimer upped their price objective on shares of Starbucks from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. UBS Group upped their price objective on shares of Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Credit Suisse Group initiated coverage on shares of Starbucks in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $92.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks presently has a consensus rating of “Buy” and an average target price of $89.53.

Shares of NASDAQ SBUX traded up $0.13 during mid-day trading on Friday, hitting $95.51. The company had a trading volume of 6,237,031 shares, compared to its average volume of 7,202,911. The company has a market cap of $113.34 billion, a P/E ratio of 34.43, a PEG ratio of 2.61 and a beta of 0.55. The company has a 50-day moving average price of $88.57. Starbucks Co. has a one year low of $51.19 and a one year high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. Starbucks’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Analysts predict that Starbucks Co. will post 2.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s payout ratio is 59.50%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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