EverSource Wealth Advisors LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 19.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,852 shares of the coffee company’s stock after selling 680 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Starbucks were worth $260,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of SBUX. Guardian Wealth Management Inc. bought a new stake in shares of Starbucks in the fourth quarter worth $25,000. Bromfield Sneider Wealth Advisors bought a new stake in shares of Starbucks in the first quarter worth $25,000. Burleson & Company LLC boosted its position in Starbucks by 2,660.0% during the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 266 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in Starbucks during the fourth quarter valued at $28,000. Finally, Herold Advisors Inc. bought a new stake in Starbucks during the first quarter valued at $29,000. Institutional investors own 67.97% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the stock. UBS Group upped their price target on shares of Starbucks from $82.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. upped their price target on shares of Starbucks from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday. Fubon Bank raised shares of Starbucks from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday. Cowen upped their price target on shares of Starbucks from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Finally, Wedbush upped their price objective on shares of Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday. Fifteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $104.43.
Starbucks Stock Performance
Starbucks (NASDAQ:SBUX – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period last year, the business posted $1.01 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 2.88 earnings per share for the current year.
Starbucks Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.49 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.96 annualized dividend and a yield of 2.13%. Starbucks’s dividend payout ratio (DPR) is 55.21%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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