WCG Wealth Advisors LLC Sells 2,864 Shares of Starbucks Corporation $SBUX

Key Points

• WCG Wealth Advisors LLC has reduced its holdings in Starbucks Corporation by 8.2%, selling 2,864 shares, resulting in ownership of 32,056 shares valued at $3,144,000.
• Several analysts have updated their ratings for Starbucks, with target prices increased to as high as $115.00, indicating a consensus average price target of $104.40.
• Starbucks recently reported quarterly earnings that missed expectations, with an EPS of $0.50, while the company declared a quarterly dividend of $0.61 per share, reflecting a 2.8% yield.

WCG Wealth Advisors LLC lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,056 shares of the coffee company's stock after selling 2,864 shares during the quarter. WCG Wealth Advisors LLC's holdings in Starbucks were worth $3,144,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the 4th quarter valued at approximately $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the first quarter worth $27,000. McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks in the first quarter worth $29,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks during the fourth quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in Starbucks in the 4th quarter valued at $41,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on SBUX shares. 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. Barclays boosted their target price on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. UBS Group lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Citigroup reduced their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks Trading Down 0.2%

SBUX opened at $88.38 on Monday. The firm has a market cap of $100.46 billion, a P/E ratio of 38.09, a P/E/G ratio of 5.25 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a 50-day moving average of $92.49 and a 200 day moving average of $93.29.

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

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.8%. Starbucks's dividend payout ratio (DPR) is currently 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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