Starbucks Corporation $SBUX Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC cut its position in Starbucks Corporation (NASDAQ:SBUX) by 14.9% during the second quarter, HoldingsChannel.com reports. The fund owned 9,696 shares of the coffee company’s stock after selling 1,693 shares during the period. CFM Wealth Partners LLC’s holdings in Starbucks were worth $888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SBUX. Brighton Jones LLC boosted its stake in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Starbucks by 16.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,310 shares of the coffee company’s stock worth $521,000 after buying an additional 765 shares during the last quarter. Wedmont Private Capital boosted its stake in Starbucks by 12.1% during the first quarter. Wedmont Private Capital now owns 15,145 shares of the coffee company’s stock worth $1,486,000 after buying an additional 1,633 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in Starbucks during the first quarter worth $206,000. Finally, Capital Investment Advisors LLC boosted its stake in Starbucks by 7.1% during the first quarter. Capital Investment Advisors LLC now owns 19,618 shares of the coffee company’s stock worth $1,924,000 after buying an additional 1,305 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 5.0%

Shares of Starbucks stock opened at $82.11 on Tuesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The business’s fifty day simple moving average is $87.33 and its 200-day simple moving average is $88.35. The firm has a market cap of $93.33 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 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 during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company earned $0.93 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research note on Saturday, September 27th. Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 17th. Finally, Barclays boosted their price objective on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has an average 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.