Avidian Wealth Enterprises LLC Has $1.02 Million Position in Starbucks Corporation $SBUX

Avidian Wealth Enterprises LLC lowered its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,092 shares of the coffee company’s stock after selling 162 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Starbucks were worth $1,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after buying an additional 81,952 shares during the period. GAMMA Investing LLC grew its position in Starbucks by 21.9% in the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after acquiring an additional 3,703 shares during the period. JFS Wealth Advisors LLC raised its stake in Starbucks by 13.6% during the first quarter. JFS Wealth Advisors LLC now owns 3,868 shares of the coffee company’s stock worth $379,000 after acquiring an additional 462 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Starbucks by 7.9% during the first quarter. Asset Management One Co. Ltd. now owns 507,451 shares of the coffee company’s stock valued at $49,776,000 after acquiring an additional 37,095 shares during the period. Finally, AssuredPartners Investment Advisors LLC boosted its stake in shares of Starbucks by 9.3% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 29,202 shares of the coffee company’s stock valued at $2,864,000 after purchasing an additional 2,484 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBUX. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. TD Cowen decreased their price objective on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, October 10th. BTIG Research set a $105.00 target price on shares of Starbucks in a research note on Thursday, September 25th. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Stifel Nicolaus raised their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.60.

Starbucks Price Performance

SBUX opened at $85.90 on Wednesday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company’s 50 day simple moving average is $85.42 and its 200-day simple moving average is $87.40. The stock has a market capitalization of $97.64 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $9.29 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company 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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is currently 105.17%.

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.