Galvin Gaustad & Stein LLC Has $451,000 Position in Starbucks Corporation $SBUX

Galvin Gaustad & Stein LLC reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,927 shares of the coffee company’s stock after selling 1,298 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Starbucks were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks in the 2nd quarter valued at approximately $26,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the 1st quarter valued at approximately $29,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX opened at $79.78 on Friday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $90.69 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 3.95 and a beta of 1.01. The business’s fifty day moving average is $86.65 and its 200-day moving average is $88.14.

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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders 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. This represents a $2.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler set a $105.00 price objective on Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Morgan Stanley reiterated an “overweight” rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday. Evercore ISI reissued an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, UBS Group upped their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

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.