Starbucks Corporation $SBUX Stake Lessened by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC cut its stake in Starbucks Corporation (NASDAQ:SBUX) by 6.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 23,527 shares of the coffee company’s stock after selling 1,664 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Starbucks were worth $2,156,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter valued at about $27,000. Chelsea Counsel Co. bought a new stake in Starbucks in the second quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks during the 1st quarter worth approximately $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $85.57 on Friday. The firm has a fifty day moving average of $83.92 and a 200-day moving average of $87.50. The company has a market cap of $97.27 billion, a price-to-earnings ratio of 52.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year 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 for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. Analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SBUX shares. BTIG Research reissued a “buy” rating and set a $105.00 price target on shares of Starbucks in a research report on Thursday, October 30th. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. Barclays decreased their price target on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.50.

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.