Marks Group Wealth Management Inc Sells 1,545 Shares of Starbucks Corporation $SBUX

Marks Group Wealth Management Inc decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,951 shares of the coffee company’s stock after selling 1,545 shares during the period. Marks Group Wealth Management Inc’s holdings in Starbucks were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Alliance Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 108 shares during the period. Brown Lisle Cummings Inc. boosted its stake in shares of Starbucks by 1.4% during the second 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 period. Diligent Investors LLC boosted its stake in shares of Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the period. Ted Buchan & Co boosted its stake in shares of 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 purchasing an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. boosted its stake in shares of 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 purchasing an additional 122 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3%

SBUX opened at $86.42 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company has a market cap of $98.23 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. The firm’s 50-day moving average price is $87.56 and its 200-day moving average price is $88.46.

Starbucks (NASDAQ:SBUX) last posted 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 net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the company earned $0.93 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SBUX shares. Evercore ISI reissued an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Bank of America upped their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research note on Saturday, September 27th. Finally, TD Securities reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.00.

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.