Perfromance Wealth Partners LLC Sells 324 Shares of Starbucks Corporation $SBUX

Perfromance Wealth Partners LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,183 shares of the coffee company’s stock after selling 324 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Starbucks were worth $383,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC purchased a new stake in Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. purchased a new stake in Starbucks in the 2nd quarter valued at about $26,000. Hughes Financial Services LLC purchased a new stake in Starbucks in the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its position in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new stake in Starbucks in the 1st quarter valued at about $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $80.03 on Tuesday. The company has a 50 day moving average price of $86.29 and a 200-day moving average price of $87.75. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $90.97 billion, a PE ratio of 34.50, a PEG ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the previous year, the company earned $0.93 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. Starbucks’s dividend payout ratio is currently 105.17%.

Analyst Ratings Changes

SBUX has been the subject of several research reports. BTIG Research set a $105.00 price objective on shares of Starbucks in a research report on Thursday, September 25th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Wells Fargo & Company upped their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, TD Securities reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.96.

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.