Starbucks Corporation $SBUX Stock Position Decreased by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC reduced its holdings in Starbucks by 52.5%, now owning 6,832 shares valued at approximately $670,000.
• Several analysts have raised their target price for Starbucks, with the consensus target now at $104.40, and the stock is rated as a "Moderate Buy."
• Starbucks announced a quarterly dividend of $0.61 per share, yielding about 3.0%, despite having a dividend payout ratio of 105.17%.

Belpointe Asset Management LLC lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 52.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,832 shares of the coffee company's stock after selling 7,565 shares during the period. Belpointe Asset Management LLC's holdings in Starbucks were worth $670,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. bought a new position in Starbucks in the 1st quarter worth about $29,000. Activest Wealth Management grew its position in Starbucks by 78.0% in the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in Starbucks in the 4th quarter worth about $41,000. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Guggenheim upped their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Sanford C. Bernstein upped their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Stifel Nicolaus upped their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their target price 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. Finally, Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Price Performance

Starbucks stock opened at $81.90 on Friday. The firm has a 50 day simple moving average of $90.45 and a 200-day simple moving average of $90.79. The stock has a market capitalization of $93.10 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 4.92 and a beta of 1.00. 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 posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. On average, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

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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