Brown Miller Wealth Management LLC Has $4.27 Million Stock Position in Starbucks Corporation $SBUX

Brown Miller Wealth Management LLC lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 46,606 shares of the coffee company’s stock after buying an additional 991 shares during the quarter. Starbucks accounts for 1.3% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Brown Miller Wealth Management LLC’s holdings in Starbucks were worth $4,270,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Alliance Wealth Advisors LLC increased its holdings in shares of Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC raised its position in shares of Starbucks by 1.9% in the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the period. Ted Buchan & Co lifted its stake in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after buying an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its holdings in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after buying an additional 122 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $86.42 on Friday. The stock has a market capitalization of $98.23 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a fifty day moving average of $87.56 and a 200-day moving average of $88.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. Equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBUX. Wells Fargo & Company lifted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Stifel Nicolaus increased their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock 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.