Omnia Family Wealth LLC Has $243,000 Position in Starbucks Corporation $SBUX

Omnia Family Wealth LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,652 shares of the coffee company’s stock after selling 199 shares during the period. Omnia Family Wealth LLC’s holdings in Starbucks were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Starbucks by 3.8% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 25,677 shares of the coffee company’s stock valued at $2,353,000 after purchasing an additional 951 shares in the last quarter. WealthPlan Investment Management LLC grew its holdings in Starbucks by 3.6% during the 2nd quarter. WealthPlan Investment Management LLC now owns 4,463 shares of the coffee company’s stock worth $409,000 after acquiring an additional 155 shares during the period. Nexus Investment Management ULC acquired a new stake in Starbucks during the 2nd quarter worth $35,000. Smart Portfolios LLC grew its holdings in Starbucks by 4.0% during the 2nd quarter. Smart Portfolios LLC now owns 5,740 shares of the coffee company’s stock worth $526,000 after acquiring an additional 220 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in Starbucks by 18.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 3,957 shares of the coffee company’s stock worth $363,000 after acquiring an additional 610 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Loop Capital set a $165.00 target price on shares of Starbucks in a report on Tuesday, August 12th. Wells Fargo & Company lifted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Sanford C. Bernstein lifted their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $102.96.

Starbucks Stock Up 2.1%

Shares of SBUX stock opened at $82.86 on Thursday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a market capitalization of $94.19 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 4.01 and a beta of 1.01. The firm has a fifty day moving average of $85.99 and a 200-day moving average of $87.67.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. Research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business 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 $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.0%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is presently 105.17%.

Starbucks Company 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.