Octavia Wealth Advisors LLC Lowers Stock Position in Starbucks Corporation $SBUX

Octavia Wealth Advisors LLC cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,476 shares of the coffee company’s stock after selling 424 shares during the period. Octavia Wealth Advisors LLC’s holdings in Starbucks were worth $319,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Benin Management CORP increased its stake in Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock worth $1,626,000 after acquiring an additional 120 shares during the last quarter. Ted Buchan & Co increased its stake in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its stake in Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after acquiring an additional 122 shares during the last quarter. Private Wealth Management Group LLC increased its stake in Starbucks by 13.3% in the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock worth $104,000 after acquiring an additional 124 shares during the last quarter. Finally, Avalon Trust Co increased its stake in Starbucks by 5.5% in the 1st quarter. Avalon Trust Co now owns 2,384 shares of the coffee company’s stock worth $234,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several analyst reports. Citigroup cut their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Barclays boosted their target price on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Royal Bank Of Canada boosted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Stock Down 1.7%

SBUX opened at $84.27 on Thursday. The business has a fifty day moving average of $88.87 and a 200 day moving average of $89.27. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market cap of $95.79 billion, a P/E ratio of 36.32, a PEG ratio of 5.12 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Starbucks’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

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.