Vision Financial Markets LLC Sells 180 Shares of Starbucks Corporation $SBUX

Vision Financial Markets LLC reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,878 shares of the coffee company’s stock after selling 180 shares during the period. Vision Financial Markets LLC’s holdings in Starbucks were worth $264,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Narwhal Capital Management lifted its position in shares of Starbucks by 39.6% in the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after acquiring an additional 9,282 shares during the period. PUREfi Wealth LLC bought a new position in Starbucks in the second quarter worth $286,000. Napa Wealth Management acquired a new stake in Starbucks during the first quarter worth $1,435,000. Morningstar Investment Management LLC bought a new stake in Starbucks in the 2nd quarter valued at $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in Starbucks in the 2nd quarter valued at $1,289,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 1.3%

NASDAQ:SBUX opened at $87.22 on Tuesday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock’s fifty day simple moving average is $84.90 and its 200-day simple moving average is $87.51. The firm has a market capitalization of $99.14 billion, a P/E ratio of 37.59, a P/E/G ratio of 4.32 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during 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 business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm 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 of this dividend 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 2.8%. Starbucks’s payout ratio is presently 105.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Barclays decreased their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Citigroup reduced their target price on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

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.