M3 Advisory Group LLC Sells 164 Shares of Starbucks Corporation $SBUX

M3 Advisory Group LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,837 shares of the coffee company’s stock after selling 164 shares during the period. M3 Advisory Group LLC’s holdings in Starbucks were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the second quarter valued at $26,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its holdings 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 valued at $28,000 after purchasing an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks in the first quarter valued at $29,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. UBS Group raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Finally, Barclays raised their target price on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.56.

Starbucks Stock Down 1.7%

NASDAQ SBUX opened at $78.46 on Monday. The company has a fifty day moving average of $86.48 and a two-hundred day moving average of $87.87. The firm has a market capitalization of $89.19 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 3.89 and a beta of 1.01. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Starbucks 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.