Starbucks Corporation $SBUX Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,951 shares of the coffee company’s stock after selling 1,545 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Starbucks were worth $2,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in Starbucks in the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC purchased a new stake in Starbucks in the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC purchased a new stake in Starbucks in the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. boosted its position in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 0.3%

Shares of SBUX opened at $86.42 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company has a market capitalization of $98.23 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. The stock has a fifty day simple moving average of $87.56 and a two-hundred day simple moving average of $88.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $9.29 billion. During the same period last year, the business earned $0.93 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on SBUX shares. Guggenheim upped their price objective on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research report on Thursday, July 17th. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Morgan Stanley restated an “overweight” rating and issued a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein increased their target price on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.00.

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.