Starbucks Corporation $SBUX Stake Trimmed by Rede Wealth LLC

Rede Wealth LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,763 shares of the coffee company’s stock after selling 188 shares during the quarter. Rede Wealth LLC’s holdings in Starbucks were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Alliance Wealth Advisors LLC increased its stake in Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after purchasing an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. increased its stake in Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC increased its stake in Starbucks by 1.9% in the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares in 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 purchasing an additional 120 shares in the last quarter. Finally, 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 purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of analyst reports. UBS Group set a $94.00 price target on Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. BTIG Research reaffirmed a “buy” rating and set a $105.00 target price on shares of Starbucks in a research note on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research note on Thursday. Bank of America lifted their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, TD Cowen reaffirmed a “hold” rating and set a $84.00 target price on shares of Starbucks in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

Starbucks Price Performance

Shares of Starbucks stock opened at $80.87 on Friday. The firm has a market cap of $91.92 billion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a 50-day simple moving average of $84.43 and a 200-day simple moving average of $87.44.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 151.22%.

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.