Linscomb Wealth Inc. Sells 1,333 Shares of Starbucks Corporation $SBUX

Linscomb Wealth Inc. decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 17.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,123 shares of the coffee company’s stock after selling 1,333 shares during the period. Linscomb Wealth Inc.’s holdings in Starbucks were worth $561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks during the second quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new position in Starbucks during the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 2.7%

Shares of NASDAQ SBUX opened at $80.87 on Friday. The company has a 50 day simple moving average of $84.43 and a two-hundred day simple moving average of $87.44. The stock has a market cap of $91.92 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (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 company had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same period last year, the firm earned $0.80 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current 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 paid a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is 151.22%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SBUX shares. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada set a $100.00 price target on Starbucks and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Sanford C. Bernstein set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a report on Thursday. Finally, Loop Capital set a $165.00 target price on shares of Starbucks in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $100.50.

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.