Starbucks Corporation $SBUX Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,612 shares of the coffee company’s stock after selling 328 shares during the period. Stratos Wealth Advisors LLC’s holdings in Starbucks were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Alliance Wealth Advisors LLC increased its holdings in Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after purchasing an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC increased its holdings in Starbucks by 1.9% in the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the last quarter. Ted Buchan & Co increased its holdings in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. increased its holdings in Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 1.2%

Shares of SBUX stock opened at $85.36 on Monday. The firm has a fifty day moving average price of $85.72 and a 200 day moving average price of $87.40. The company has a market cap of $97.03 billion, a P/E ratio of 36.79, a PEG ratio of 4.22 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) last issued 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). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. On average, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

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

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. UBS Group lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday. Cowen reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. CICC Research began coverage on shares of Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.76.

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.