Nisa Investment Advisors LLC Sells 31,864 Shares of Starbucks Corporation $SBUX

Nisa Investment Advisors LLC decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,206 shares of the coffee company’s stock after selling 31,864 shares during the period. Nisa Investment Advisors LLC’s holdings in Starbucks were worth $32,456,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the second quarter worth about $25,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC bought a new position in shares of Starbucks during the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks in the first quarter worth $29,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Piper Sandler set a $105.00 price objective on Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.80.

Starbucks Stock Performance

SBUX opened at $86.09 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm’s fifty day moving average is $85.01 and its 200 day moving average is $87.53. The stock has a market cap of $97.86 billion, a price-to-earnings ratio of 37.11, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01.

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

Starbucks Increases Dividend

The business also recently announced 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 represents a $2.48 annualized dividend and a yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

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.