Stokes Family Office LLC Lowers Holdings in Starbucks Corporation $SBUX

Stokes Family Office LLC lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.0% during the second quarter, Holdings Channel.com reports. The firm owned 18,597 shares of the coffee company’s stock after selling 776 shares during the quarter. Stokes Family Office LLC’s holdings in Starbucks were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Paradigm Asset Management Co. LLC acquired a new stake in shares of Starbucks in the 2nd quarter worth approximately $302,000. Quadrant Private Wealth Management LLC boosted its position in shares of Starbucks by 1.6% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 25,165 shares of the coffee company’s stock worth $2,306,000 after buying an additional 401 shares in the last quarter. Wedbush Securities Inc. grew its stake in Starbucks by 8.1% in the 2nd quarter. Wedbush Securities Inc. now owns 54,226 shares of the coffee company’s stock valued at $4,969,000 after acquiring an additional 4,049 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its stake in Starbucks by 32.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 21,387 shares of the coffee company’s stock valued at $1,960,000 after acquiring an additional 5,186 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its holdings in Starbucks by 3.8% during the 2nd quarter. Texas Yale Capital Corp. now owns 6,878 shares of the coffee company’s stock valued at $630,000 after acquiring an additional 250 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 4.1%

Shares of SBUX opened at $85.57 on Friday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The firm has a market capitalization of $97.27 billion, a P/E ratio of 52.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The stock’s fifty day simple moving average is $83.92 and its 200 day simple moving average is $87.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 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 negative return on equity of 31.84% and a net margin of 4.99%.The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared 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%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is presently 151.22%.

Analysts Set New Price Targets

Several research firms have recently commented on SBUX. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. TD Cowen reiterated a “hold” rating and set a $84.00 target price on shares of Starbucks in a report on Thursday, October 30th. BTIG Research reissued a “buy” rating and set a $105.00 price target on shares of Starbucks in a research report on Thursday, October 30th. Dbs Bank cut Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday. Finally, Citigroup decreased their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus price target of $100.50.

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.