Lodestar Private Asset Management LLC Sells 874 Shares of Starbucks Corporation $SBUX

Lodestar Private Asset Management LLC decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 21.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,109 shares of the coffee company’s stock after selling 874 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Starbucks were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. PUREfi Wealth LLC bought a new stake in Starbucks during the 2nd quarter valued at $286,000. Narwhal Capital Management raised its holdings in Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after acquiring an additional 9,282 shares during the period. Napa Wealth Management bought a new stake in Starbucks during the 1st quarter valued at $1,435,000. Personal CFO Solutions LLC raised its holdings in 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 acquiring an additional 5,151 shares during the period. Finally, First Manhattan CO. LLC. increased its holdings in shares of Starbucks by 33.1% in the first 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 during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $78.46 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a fifty day moving average of $86.48 and a 200 day moving average of $87.87. The firm has a market capitalization of $89.19 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS 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 given a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.2%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SBUX shares. Bank of America upped their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Loop Capital set a $165.00 price target on shares of Starbucks in a report on Tuesday, August 12th. Barclays upped their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.56.

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.