Drucker Wealth 3.0 LLC Has $2.84 Million Stock Position in Starbucks Corporation $SBUX

Key Points

• Drucker Wealth 3.0 LLC reduced its Starbucks shares by 27.4%, owning 29,809 shares valued at $2.84 million, following the sale of 11,257 shares in the second quarter.
• Starbucks reported earnings per share of $0.50 for the last quarter, missing estimates, although revenue increased by 3.8% year-over-year.
• The company announced a quarterly dividend increase from $0.61 to $0.62 per share, representing a yield of 3.2%, with a payout ratio of 105.17%.

Drucker Wealth 3.0 LLC lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 27.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,809 shares of the coffee company's stock after selling 11,257 shares during the period. Drucker Wealth 3.0 LLC's holdings in Starbucks were worth $2,839,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SBUX. Nuveen LLC acquired a new position in shares of Starbucks during the 1st quarter worth $1,379,619,000. Jennison Associates LLC acquired a new position in Starbucks in the 1st quarter worth about $817,759,000. Polen Capital Management LLC acquired a new position in Starbucks in the 1st quarter worth about $503,539,000. Goldman Sachs Group Inc. increased its holdings in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX stock opened at $78.46 on Friday. The stock's 50 day simple moving average is $86.48 and its 200 day simple moving average is $88.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a market cap of $89.19 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 3.93 and a beta of 1.01.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.93 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared 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 of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.2%. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup raised Starbucks from a "neutral" rating to a "mixed" rating in a report on Thursday. 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. UBS Group upped their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, BTIG Research set a $105.00 price target on Starbucks in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.56.

Starbucks Company 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.

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