Rehmann Capital Advisory Group Has $815,000 Stock Position in Starbucks Corporation $SBUX

Rehmann Capital Advisory Group decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,899 shares of the coffee company’s stock after selling 1,298 shares during the period. Rehmann Capital Advisory Group’s holdings in Starbucks were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alliance Wealth Advisors LLC grew its stake in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. boosted its stake in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after buying an additional 117 shares in the last quarter. Diligent Investors LLC boosted its stake in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after buying an additional 117 shares in the last quarter. Ted Buchan & Co boosted its stake in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after buying an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its stake in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SBUX shares. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. CICC Research began coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. BMO Capital Markets reissued an “outperform” rating and set a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.80.

Starbucks Price Performance

SBUX opened at $85.50 on Thursday. The stock has a market capitalization of $97.19 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 4.31 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company’s 50 day simple moving average is $85.25 and its 200-day simple moving average is $87.39.

Starbucks (NASDAQ:SBUX) last announced 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). The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

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

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.