Arete Wealth Advisors LLC Sells 882 Shares of Starbucks Corporation $SBUX

Arete Wealth Advisors LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 10.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,610 shares of the coffee company’s stock after selling 882 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Starbucks were worth $746,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. TrinityPoint Wealth LLC lifted its holdings in Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the period. Benin Management CORP lifted its position in Starbucks by 0.7% during the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after acquiring an additional 120 shares during the last quarter. Ted Buchan & Co lifted its position in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. lifted its position in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after acquiring an additional 122 shares during the last quarter. Finally, Private Wealth Management Group LLC lifted its position in Starbucks by 13.3% during the first quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock valued at $104,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Citigroup cut their price target on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Finally, Guggenheim upped their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Trading Down 0.4%

Shares of Starbucks stock opened at $83.81 on Wednesday. The firm has a market capitalization of $95.27 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm’s 50 day simple moving average is $91.17 and its two-hundred day simple moving average is $91.29.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 EPS. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is presently 105.17%.

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.