Starbucks Corporation $SBUX Shares Sold by Key Client Fiduciary Advisors LLC

Key Client Fiduciary Advisors LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.9% in the second quarter, HoldingsChannel reports. The firm owned 2,736 shares of the coffee company’s stock after selling 333 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Starbucks were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after buying an additional 953,361 shares in the last quarter. Wellington Management Group LLP increased its holdings in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. Nuveen LLC purchased a new position in Starbucks in the first quarter valued at $1,379,619,000. Goldman Sachs Group Inc. increased its holdings in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Starbucks in the first quarter valued at $817,759,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBUX. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wells Fargo & Company lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Stifel Nicolaus boosted their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Trading Up 1.0%

Shares of NASDAQ SBUX opened at $82.68 on Tuesday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market cap of $93.98 billion, a PE ratio of 35.64, a P/E/G ratio of 4.89 and a beta of 1.00. The company has a 50-day moving average of $90.23 and a 200 day moving average of $90.24.

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 net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend payout ratio is currently 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.