B. Riley Wealth Advisors Inc. Invests $2.70 Million in Starbucks Corporation $SBUX

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,505 shares of the coffee company’s stock, valued at approximately $2,704,000.

Other hedge funds also recently bought and sold shares of the company. Alliance Wealth Advisors LLC grew its position in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares during the last quarter. Cooper Haims Advisors LLC boosted its stake in shares of Starbucks by 3.0% in the 2nd quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock valued at $344,000 after purchasing an additional 110 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings in shares of Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC raised its position in Starbucks by 1.9% in the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the period. Finally, Sweeney & Michel LLC lifted its stake in Starbucks by 2.3% in the second quarter. Sweeney & Michel LLC now owns 5,666 shares of the coffee company’s stock worth $538,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.7%

NASDAQ:SBUX opened at $85.35 on Monday. The firm’s fifty day simple moving average is $84.00 and its 200 day simple moving average is $87.69. The stock has a market cap of $97.05 billion, a P/E ratio of 52.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. On average, analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.62 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on SBUX. UBS Group set a $94.00 price objective on Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Morgan Stanley set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Finally, Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $101.44.

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.