Starbucks Corporation $SBUX Shares Sold by Astoria Portfolio Advisors LLC.

Astoria Portfolio Advisors LLC. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,497 shares of the coffee company’s stock after selling 167 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Starbucks were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sequoia Financial Advisors LLC increased its position in shares of Starbucks by 10.8% in the second quarter. Sequoia Financial Advisors LLC now owns 44,413 shares of the coffee company’s stock worth $4,070,000 after acquiring an additional 4,340 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in Starbucks during the second quarter valued at approximately $556,000. Vest Financial LLC raised its position in Starbucks by 39.2% during the second quarter. Vest Financial LLC now owns 21,985 shares of the coffee company’s stock valued at $2,014,000 after acquiring an additional 6,196 shares in the last quarter. Pegasus Asset Management Inc. acquired a new stake in shares of Starbucks in the second quarter worth $1,289,000. Finally, MGO One Seven LLC grew its stake in Starbucks by 5.1% in the 2nd quarter. MGO One Seven LLC now owns 30,613 shares of the coffee company’s stock valued at $2,805,000 after buying an additional 1,481 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $78.46 on Monday. The stock has a market cap of $89.19 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.89 and a beta of 1.01. The firm has a 50 day moving average price of $86.48 and a 200 day moving average price of $87.87. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 EPS. Analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Barclays raised their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price on the stock. Royal Bank Of Canada raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, TD Cowen lowered their price objective on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research report on Friday. One research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.56.

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.