HB Wealth Management LLC Sells 11,260 Shares of Starbucks Corporation $SBUX

Key Points

• HB Wealth Management LLC reduced its holdings in Starbucks by 24.2%, selling 11,260 shares during the second quarter, leaving them with 35,320 shares valued at approximately $3.236 million.
• Starbucks reported a quarterly earnings per share (EPS) of $0.50, which was below the consensus estimate of $0.64, while revenue of $9.46 billion exceeded expectations of $9.29 billion.
• The company declared a quarterly dividend of $0.62, marking an increase from the previous $0.61, resulting in a reported annualized dividend of $2.48 and a yield of 2.9%.

HB Wealth Management LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 24.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,320 shares of the coffee company's stock after selling 11,260 shares during the period. HB Wealth Management LLC's holdings in Starbucks were worth $3,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Napa Wealth Management bought a new position in Starbucks in the first quarter worth approximately $1,435,000. Personal CFO Solutions LLC lifted its holdings in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of Starbucks by 33.1% in the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after purchasing an additional 111,015 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Starbucks during the 1st quarter worth $998,000. Finally, Norden Group LLC grew its stake in Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after buying an additional 12,027 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $84.40 on Thursday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm has a market cap of $95.94 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 5.12 and a beta of 1.01. The firm's fifty day moving average is $87.86 and its two-hundred day moving average is $88.77.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.9%. This is a positive change from Starbucks's previous quarterly dividend of $0.61. Starbucks's dividend payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Sanford C. Bernstein boosted their target price on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Barclays boosted their target price on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and a consensus price target of $104.00.

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.

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