Starbucks Corporation $SBUX Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,167 shares of the coffee company’s stock after selling 838 shares during the quarter. Western Wealth Management LLC’s holdings in Starbucks were worth $1,023,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. Chelsea Counsel Co. acquired a new stake in Starbucks during the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its position in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Starbucks in the first quarter valued at $29,000. Finally, MTM Investment Management LLC acquired a new position in Starbucks in the second quarter valued at $28,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director owned 53,096 shares in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Dbs Bank cut Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. BTIG Research restated a “buy” rating and set a $105.00 price target on shares of Starbucks in a research note on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Piper Sandler decreased their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Stock Performance

NASDAQ:SBUX opened at $83.69 on Tuesday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a fifty day moving average price of $83.75 and a two-hundred day moving average price of $87.64. The stock has a market capitalization of $95.13 billion, a price-to-earnings ratio of 51.03, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is 151.22%.

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.