Ashton Thomas Private Wealth LLC Sells 472 Shares of Starbucks Corporation $SBUX

Ashton Thomas Private Wealth LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,820 shares of the coffee company’s stock after selling 472 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Starbucks were worth $6,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Narwhal Capital Management lifted its holdings in shares of 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 buying an additional 9,282 shares during the period. PUREfi Wealth LLC bought a new position in shares of Starbucks during the 2nd quarter valued at $286,000. Napa Wealth Management bought a new position in shares of Starbucks during the 1st quarter valued at $1,435,000. Morningstar Investment Management LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth $653,000. Finally, Pegasus Asset Management Inc. purchased a new stake in shares of Starbucks in the 2nd quarter worth $1,289,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SBUX shares. CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective for the company. Bank of America upped their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Stifel Nicolaus upped their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. TD Cowen reduced their price objective on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, October 10th. Finally, Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.80.

Starbucks Stock Performance

Shares of SBUX stock opened at $86.09 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market capitalization of $97.86 billion, a PE ratio of 37.11, a PEG ratio of 4.32 and a beta of 1.01. The stock has a fifty day simple moving average of $85.01 and a two-hundred day simple moving average of $87.52.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The company’s quarterly 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 paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is currently 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.