Starbucks Corporation $SBUX Shares Sold by Dakota Wealth Management

Dakota Wealth Management decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 53,840 shares of the coffee company’s stock after selling 506 shares during the period. Dakota Wealth Management’s holdings in Starbucks were worth $4,933,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at about $263,000. Centaurus Financial Inc. boosted its position in shares of Starbucks by 10.7% in the 4th quarter. Centaurus Financial Inc. now owns 21,076 shares of the coffee company’s stock valued at $1,923,000 after purchasing an additional 2,031 shares during the period. Neville Rodie & Shaw Inc. purchased a new position in Starbucks during the 1st quarter worth approximately $218,000. Finally, Marcum Wealth LLC increased its position in Starbucks by 8.7% during the first quarter. Marcum Wealth LLC now owns 10,934 shares of the coffee company’s stock worth $1,073,000 after buying an additional 875 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock opened at $83.83 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market capitalization of $95.29 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 5.04 and a beta of 1.00. The company has a fifty day moving average of $88.68 and a 200-day moving average of $89.15.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 negative return on equity of 36.23% and a net margin of 7.18%.The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. Bank of America increased their price objective on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Guggenheim increased their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Citigroup lowered their price target on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Company 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.