Twin City Private Wealth LLC Has $2.16 Million Holdings in Starbucks Corporation $SBUX

Twin City Private Wealth LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,581 shares of the coffee company’s stock after selling 1,672 shares during the quarter. Starbucks accounts for about 1.8% of Twin City Private Wealth LLC’s investment portfolio, making the stock its 19th biggest holding. Twin City Private Wealth LLC’s holdings in Starbucks were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Brighton Jones LLC boosted its holdings in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Starbucks by 1.8% during the first quarter. Pinnacle Financial Partners Inc now owns 10,826 shares of the coffee company’s stock worth $1,054,000 after purchasing an additional 191 shares during the last quarter. Revisor Wealth Management LLC acquired a new position in Starbucks during the first quarter worth $226,000. Teacher Retirement System of Texas boosted its holdings in Starbucks by 226.7% during the first quarter. Teacher Retirement System of Texas now owns 218,367 shares of the coffee company’s stock worth $21,420,000 after purchasing an additional 151,524 shares during the last quarter. Finally, North Capital Inc. acquired a new position in Starbucks during the first quarter worth $96,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBUX. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday. Bank of America increased their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday. Finally, Citigroup reduced their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $100.50.

Starbucks Trading Down 2.7%

NASDAQ SBUX opened at $80.87 on Friday. The firm’s fifty day moving average price is $84.43 and its two-hundred day moving average price is $87.44. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market capitalization of $91.92 billion, a P/E ratio of 49.31, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted 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). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. Starbucks’s payout ratio is currently 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.