Starbucks Corporation $SBUX Stock Position Decreased by Northwest Quadrant Wealth Management LLC

Northwest Quadrant Wealth Management LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,247 shares of the coffee company’s stock after selling 153 shares during the quarter. Northwest Quadrant Wealth Management LLC’s holdings in Starbucks were worth $389,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter worth $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks in the second quarter worth $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter worth $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks in the first quarter worth $29,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 1.2%

Shares of NASDAQ:SBUX opened at $85.36 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The business has a fifty day simple moving average of $85.72 and a 200 day simple moving average of $87.40. The firm has a market cap of $97.03 billion, a price-to-earnings ratio of 36.79, a P/E/G ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. Starbucks’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company 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 dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BTIG Research set a $105.00 target price on Starbucks in a research report on Thursday, September 25th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, Piper Sandler set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.76.

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.