IFP Advisors Inc Decreases Stock Holdings in Starbucks Corporation $SBUX

IFP Advisors Inc reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,012 shares of the coffee company’s stock after selling 2,380 shares during the quarter. IFP Advisors Inc’s holdings in Starbucks were worth $4,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC increased its position in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after purchasing an additional 108 shares during the period. Brown Lisle Cummings Inc. grew its position in Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC grew its position in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the last quarter. Ted Buchan & Co grew its position in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. grew its position in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX opened at $78.46 on Friday. The company’s 50-day simple moving average is $86.48 and its two-hundred day simple moving average is $88.02. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market capitalization of $89.19 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.93 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued 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 business 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 company earned $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 paid a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.56.

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.