WBH Advisory Inc. Reduces Holdings in Starbucks Corporation $SBUX

WBH Advisory Inc. trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,605 shares of the coffee company’s stock after selling 366 shares during the quarter. WBH Advisory Inc.’s holdings in Starbucks were worth $880,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC acquired a new position in Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. acquired a new position in Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $84.53 on Tuesday. The stock’s 50-day moving average is $85.57 and its two-hundred day moving average is $87.41. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $96.09 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 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 during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays upped their price target on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Monday. Royal Bank Of Canada upped their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $102.84.

About Starbucks

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.