Avidian Wealth Enterprises LLC Has $1.02 Million Holdings in Starbucks Corporation $SBUX

Avidian Wealth Enterprises LLC cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,092 shares of the coffee company’s stock after selling 162 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Starbucks were worth $1,016,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SBUX. Alliance Wealth Advisors LLC raised its stake 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 valued at $474,000 after acquiring an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings in 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 last quarter. Diligent Investors LLC raised its position in shares of Starbucks by 1.9% in 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 lifted its stake in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after buying an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its holdings in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after buying an additional 122 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 1.6%

SBUX stock opened at $85.90 on Wednesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market cap of $97.64 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.01. The business’s 50-day simple moving average is $85.42 and its 200 day simple moving average is $87.40.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 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 firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company earned $0.93 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SBUX shares. Barclays lifted their target price on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Cowen reiterated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. TD Cowen cut their price objective on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, October 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, UBS Group set a $94.00 price target on Starbucks and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.60.

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.