Beverly Hills Private Wealth LLC Reduces Stock Holdings in Starbucks Corporation $SBUX

Beverly Hills Private Wealth LLC decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,272 shares of the coffee company’s stock after selling 1,287 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Starbucks were worth $2,316,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SBUX. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the 2nd quarter valued at $25,000. Chelsea Counsel Co. purchased a new position in Starbucks during the 2nd quarter valued at $26,000. Hughes Financial Services LLC purchased a new position in Starbucks during the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in Starbucks during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

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

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

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

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Stifel Nicolaus upped their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 target price (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Guggenheim upped their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target 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.