Starbucks Corporation $SBUX Shares Sold by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC has significantly reduced its holdings in Starbucks Corporation, selling 21,507 shares and lowering its position by 56.7% in the second quarter.
• Starbucks recently declared an increased quarterly dividend of $0.62 per share, up from $0.61, representing an annualized yield of 3.1%.
• The stock's price performance shows a 52-week low of $75.50 and a high of $117.46, alongside a current price-to-earnings ratio of 35.04.

Kingswood Wealth Advisors LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 56.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,446 shares of the coffee company's stock after selling 21,507 shares during the period. Kingswood Wealth Advisors LLC's holdings in Starbucks were worth $1,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the first quarter valued at approximately $27,000. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its stake 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 during the period. McClarren Financial Advisors Inc. purchased a new position in Starbucks in the first quarter worth approximately $29,000. Finally, Nova Wealth Management Inc. lifted its stake in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock worth $31,000 after acquiring an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $81.29 on Wednesday. The firm's fifty day simple moving average is $87.09 and its 200-day simple moving average is $88.30. The stock has a market capitalization of $92.40 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 4.05 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

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 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is a boost 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 dividend yield of 3.1%. Starbucks's dividend payout ratio is currently 105.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBUX. TD Securities reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Wells Fargo & Company lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating and issued a $103.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.00.

About Starbucks

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.