Leo Wealth LLC Purchases Shares of 3,079 Starbucks Corporation $SBUX

Leo Wealth LLC bought a new position in Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 3,079 shares of the coffee company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alliance Wealth Advisors LLC lifted its position in shares of Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after purchasing an additional 108 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares during the period. Diligent Investors LLC lifted its position in shares of 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. Ted Buchan & Co lifted its position in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. lifted its position in shares of Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $78.46 on Friday. The firm has a market cap of $89.19 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.93 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a 50-day simple moving average of $86.48 and a two-hundred day simple moving average of $88.02.

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 firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBUX. Loop Capital set a $165.00 price target on shares of Starbucks in a research note on Tuesday, August 12th. Bank of America increased their price target 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. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday. Finally, UBS Group increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.56.

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.