RWA Wealth Partners LLC Has $2.36 Million Position in Starbucks Corporation $SBUX

RWA Wealth Partners LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 30.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 24,074 shares of the coffee company’s stock after selling 10,501 shares during the quarter. RWA Wealth Partners LLC’s holdings in Starbucks were worth $2,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks in the 4th quarter worth about $285,000. Czech National Bank increased its position in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after buying an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC increased its position in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares in the last quarter. Norden Group LLC increased its position in Starbucks by 66.1% in the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock valued at $2,964,000 after buying an additional 12,027 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new stake in Starbucks during the 1st quarter worth approximately $4,314,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SBUX. Morgan Stanley reissued an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. TD Cowen boosted their price objective on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. TD Securities reissued a “hold” rating and set a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. Bank of America boosted their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, CICC Research began coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $103.65.

Starbucks Price Performance

NASDAQ:SBUX opened at $92.54 on Tuesday. The company has a market cap of $105.19 billion, a P/E ratio of 39.89, a P/E/G ratio of 5.32 and a beta of 1.02. The stock’s fifty day moving average price is $92.83 and its two-hundred day moving average price is $93.88. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. On average, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. Starbucks’s dividend payout ratio 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.