Liberty Wealth Management LLC Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Liberty Wealth Management LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,277 shares of the coffee company’s stock after selling 195 shares during the quarter. Liberty Wealth Management LLC’s holdings in Starbucks were worth $480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Starbucks in the 4th quarter valued at approximately $1,189,240,000. BlackRock Inc. boosted its stake in shares of Starbucks by 10.3% during the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock worth $9,645,766,000 after acquiring an additional 7,672,037 shares in the last quarter. State Street Corp boosted its stake in shares of Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock worth $5,672,559,000 after acquiring an additional 1,649,721 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Starbucks by 110.8% during the 1st quarter. SG Americas Securities LLC now owns 123,265 shares of the coffee company’s stock worth $11,213,000 after acquiring an additional 1,260,538 shares in the last quarter. Finally, Fundsmith LLP boosted its stake in shares of Starbucks by 7.7% during the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock worth $1,354,132,000 after acquiring an additional 831,723 shares in the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CEO Howard D. Schultz bought 72,500 shares of Starbucks stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the transaction, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SBUX. Barclays boosted their price target on Starbucks from $94.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Wedbush boosted their price target on Starbucks from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. BMO Capital Markets cut their price objective on Starbucks from $115.00 to $105.00 in a research report on Wednesday, May 4th. Piper Sandler lifted their price objective on Starbucks from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, July 18th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Wednesday, May 4th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.92.

Starbucks Trading Down 0.9 %

Starbucks stock traded down $0.75 on Tuesday, reaching $84.97. 101,589 shares of the stock were exchanged, compared to its average volume of 6,395,122. The firm has a fifty day moving average price of $79.06 and a two-hundred day moving average price of $82.88. Starbucks Co. has a twelve month low of $68.39 and a twelve month high of $120.76. The stock has a market cap of $97.49 billion, a PE ratio of 23.85, a PEG ratio of 2.67 and a beta of 0.95.

Starbucks (NASDAQ:SBUXGet Rating) last posted its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the company earned $1.01 EPS. Equities analysts anticipate that Starbucks Co. will post 2.89 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 2.31%. Starbucks’s dividend payout ratio (DPR) is presently 55.21%.

Starbucks Company Profile

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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