Lyell Wealth Management LP Has $1.16 Million Stake in Starbucks Corporation $SBUX

Lyell Wealth Management LP trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 32.2% during the second quarter, HoldingsChannel reports. The fund owned 12,600 shares of the coffee company’s stock after selling 5,994 shares during the period. Lyell Wealth Management LP’s holdings in Starbucks were worth $1,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Accretive Wealth Partners LLC raised its holdings in shares of Starbucks by 1.6% during the second quarter. Accretive Wealth Partners LLC now owns 18,486 shares of the coffee company’s stock worth $1,694,000 after acquiring an additional 290 shares during the period. Stephens Inc. AR raised its holdings in shares of Starbucks by 13.9% during the second quarter. Stephens Inc. AR now owns 79,054 shares of the coffee company’s stock worth $7,244,000 after acquiring an additional 9,666 shares during the period. Balboa Wealth Partners lifted its position in shares of Starbucks by 8.6% in the second quarter. Balboa Wealth Partners now owns 3,236 shares of the coffee company’s stock worth $297,000 after purchasing an additional 255 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Starbucks by 12.6% in the second quarter. Salomon & Ludwin LLC now owns 1,787 shares of the coffee company’s stock worth $168,000 after purchasing an additional 200 shares in the last quarter. Finally, Crux Wealth Advisors boosted its holdings in Starbucks by 31.6% during the second quarter. Crux Wealth Advisors now owns 10,954 shares of the coffee company’s stock worth $1,004,000 after purchasing an additional 2,628 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBUX shares. Royal Bank Of Canada lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.76.

Starbucks Price Performance

Shares of SBUX opened at $85.36 on Monday. The firm has a 50-day moving average of $85.72 and a 200-day moving average of $87.40. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a market cap of $97.03 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced 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 firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the business earned $0.93 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company 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. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s payout ratio is 105.17%.

Starbucks 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.