CW Advisors LLC Reduces Stock Position in Starbucks Corporation $SBUX

CW Advisors LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 71.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,345 shares of the coffee company’s stock after selling 25,734 shares during the period. CW Advisors LLC’s holdings in Starbucks were worth $948,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Starbucks in the 1st quarter valued at approximately $357,000. Cooper Financial Group acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $209,000. SouthState Corp raised its position in shares of Starbucks by 61.9% during the 1st quarter. SouthState Corp now owns 5,592 shares of the coffee company’s stock valued at $549,000 after buying an additional 2,137 shares during the period. Finally, Cove Private Wealth LLC lifted its holdings in Starbucks by 19.0% in the first quarter. Cove Private Wealth LLC now owns 3,452 shares of the coffee company’s stock valued at $339,000 after acquiring an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Mizuho raised shares of Starbucks to a “hold” rating in a research note on Tuesday, October 28th. Finally, BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of Starbucks in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Stock Down 2.0%

Starbucks stock opened at $83.41 on Tuesday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $94.85 billion, a PE ratio of 50.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The company’s 50 day moving average is $84.11 and its two-hundred day moving average is $87.72.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 31.32% and a net margin of 4.99%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

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.