Starbucks Corporation $SBUX Shares Sold by Brady Family Wealth LLC

Brady Family Wealth LLC cut its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,664 shares of the coffee company’s stock after selling 1,692 shares during the period. Brady Family Wealth LLC’s holdings in Starbucks were worth $4,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the fourth quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in Starbucks during the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the 1st quarter worth approximately $29,000. Finally, Nova Wealth Management Inc. raised its position in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Price Performance

NASDAQ SBUX opened at $83.42 on Friday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a 50-day moving average of $89.54 and a 200-day moving average of $89.93. The company has a market cap of $94.82 billion, a P/E ratio of 35.96, a P/E/G ratio of 4.97 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued 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). 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 for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks’s dividend payout ratio is presently 105.17%.

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.