Atria Wealth Solutions Inc. lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 59.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,112 shares of the coffee company's stock after selling 46,134 shares during the period. Atria Wealth Solutions Inc.'s holdings in Starbucks were worth $2,870,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of 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 buying an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 72.29% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. BTIG Research set a $105.00 target price on shares of Starbucks in a research note on Thursday, September 25th. CICC Research initiated coverage on shares of Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Finally, Zacks Research raised shares of Starbucks from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $102.96.
Get Our Latest Stock Report on Starbucks
Starbucks Price Performance
Shares of SBUX opened at $81.15 on Wednesday. The company has a market capitalization 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 one year low of $75.50 and a one year high of $117.46. The company's fifty day moving average price is $86.11 and its 200 day moving average price is $87.70.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 EPS. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share 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 issued a $0.62 dividend. This is a boost from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.1%. Starbucks's payout ratio is 105.17%.
About Starbucks
(
Free Report)
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.
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