Premier Path Wealth Partners LLC Reduces Stock Position in Starbucks Corporation $SBUX

Premier Path Wealth Partners LLC reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 10.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,293 shares of the coffee company’s stock after selling 630 shares during the period. Premier Path Wealth Partners LLC’s holdings in Starbucks were worth $485,000 at the end of the most recent reporting period.

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

Starbucks Price Performance

Shares of SBUX opened at $83.15 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $94.52 billion, a price-to-earnings ratio of 50.70, a PEG ratio of 4.28 and a beta of 1.01. The company has a 50-day moving average of $84.58 and a 200 day moving average of $87.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a research note on Thursday. TD Cowen reaffirmed a “hold” rating and set a $84.00 price target on shares of Starbucks in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and set a $105.00 price target on shares of Starbucks in a research note on Thursday. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. Finally, Bank of America lifted their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.50.

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.