Omnia Family Wealth LLC Sells 199 Shares of Starbucks Corporation $SBUX

Omnia Family Wealth LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,652 shares of the coffee company’s stock after selling 199 shares during the period. Omnia Family Wealth LLC’s holdings in Starbucks were worth $243,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Narwhal Capital Management lifted its stake in shares of Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares during the period. PUREfi Wealth LLC bought a new stake in shares of Starbucks in the second quarter valued at about $286,000. Napa Wealth Management bought a new stake in shares of Starbucks in the first quarter valued at about $1,435,000. Morningstar Investment Management LLC bought a new position in Starbucks during the second quarter worth about $653,000. Finally, Pegasus Asset Management Inc. acquired a new stake in Starbucks during the second quarter valued at approximately $1,289,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 2.1%

NASDAQ:SBUX opened at $82.86 on Thursday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a 50 day moving average of $85.99 and a 200-day moving average of $87.67. The stock has a market capitalization of $94.19 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 4.01 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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 firm 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 posted $0.93 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Sanford C. Bernstein lifted their price objective on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Citigroup decreased their price objective on Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Stifel Nicolaus lifted their price objective on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.96.

Starbucks Company 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.