SOA Wealth Advisors LLC. Reduces Stock Holdings in Starbucks Corporation $SBUX

SOA Wealth Advisors LLC. reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,298 shares of the coffee company’s stock after selling 192 shares during the period. SOA Wealth Advisors LLC.’s holdings in Starbucks were worth $302,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after acquiring an additional 953,361 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Starbucks in the 1st quarter valued at $1,379,619,000. Goldman Sachs Group Inc. boosted its holdings in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Starbucks in the 1st quarter valued at $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Royal Bank Of Canada increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Stifel Nicolaus increased their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Trading Up 2.7%

NASDAQ:SBUX opened at $86.72 on Friday. The company’s 50-day moving average price is $87.72 and its 200-day moving average price is $88.69. The company has a market cap of $98.57 billion, a P/E ratio of 37.38, a P/E/G ratio of 4.15 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Starbucks 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.