Atria Wealth Solutions Inc. Sells 46,134 Shares of Starbucks Corporation $SBUX

Atria Wealth Solutions Inc. decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 59.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,112 shares of the coffee company’s stock after selling 46,134 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Starbucks were worth $2,870,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. 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 worth $474,000 after purchasing an additional 108 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after acquiring an additional 117 shares in the last quarter. Diligent Investors LLC boosted its position in shares of Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after acquiring an additional 117 shares in the last quarter. Ted Buchan & Co boosted its position in shares of Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its position 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 valued at $349,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SBUX shares. JPMorgan Chase & Co. lifted their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. TD Securities reiterated a “hold” rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price on the stock. in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.96.

Starbucks Stock Up 1.4%

NASDAQ:SBUX opened at $81.15 on Wednesday. The firm has a market cap of $92.24 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company’s 50-day moving average price is $86.11 and its two-hundred day moving average price is $87.70.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. On average, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) 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.