Petros Family Wealth LLC Sells 277 Shares of Starbucks Corporation $SBUX

Petros Family Wealth LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,556 shares of the coffee company’s stock after selling 277 shares during the period. Petros Family Wealth LLC’s holdings in Starbucks were worth $326,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC grew its stake in shares of Starbucks by 91.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 119,144 shares of the coffee company’s stock valued at $10,917,000 after purchasing an additional 57,019 shares during the period. Vantage Investment Partners LLC grew its stake in shares of Starbucks by 0.4% in the 2nd quarter. Vantage Investment Partners LLC now owns 141,268 shares of the coffee company’s stock valued at $12,944,000 after purchasing an additional 500 shares during the period. Three Bridge Wealth Advisors LLC grew its stake in shares of Starbucks by 11.4% in the 2nd quarter. Three Bridge Wealth Advisors LLC now owns 9,612 shares of the coffee company’s stock valued at $881,000 after purchasing an additional 984 shares during the period. Merit Financial Group LLC grew its stake in shares of Starbucks by 12.1% in the 2nd quarter. Merit Financial Group LLC now owns 82,215 shares of the coffee company’s stock valued at $7,533,000 after purchasing an additional 8,857 shares during the period. Finally, Keudell Morrison Wealth Management grew its stake in shares of Starbucks by 5.5% in the 2nd quarter. Keudell Morrison Wealth Management now owns 11,542 shares of the coffee company’s stock valued at $1,058,000 after purchasing an additional 603 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. TD Cowen reiterated a “hold” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Thursday, September 25th. Sanford C. Bernstein increased their price target on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Barclays increased their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. UBS Group increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research report on Thursday, July 17th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Stock Down 0.3%

SBUX opened at $86.42 on Monday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a fifty day simple moving average of $87.56 and a 200 day simple moving average of $88.46. The stock has a market cap of $98.23 billion, a P/E ratio of 37.25, a P/E/G ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 105.17%.

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.