Kingswood Wealth Advisors LLC Decreases Stock Position in Starbucks Corporation $SBUX

Kingswood Wealth Advisors LLC cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 56.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,446 shares of the coffee company’s stock after selling 21,507 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Starbucks were worth $1,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. PUREfi Wealth LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at about $286,000. Napa Wealth Management acquired a new position in shares of Starbucks during the 1st quarter valued at about $1,435,000. Personal CFO Solutions LLC increased its stake in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after acquiring an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. increased its stake in shares of Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after acquiring an additional 111,015 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Starbucks during the 1st quarter valued at about $998,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of SBUX opened at $81.29 on Wednesday. The business’s fifty day moving average price is $87.09 and its 200 day moving average price is $88.30. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market capitalization of $92.40 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 4.05 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 earnings per share (EPS) 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 firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. 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 research report on Friday, July 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Morgan Stanley reissued an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Barclays increased their target price on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, UBS Group increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

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.