Starbucks Corporation $SBUX Shares Sold by DeDora Capital Inc.

DeDora Capital Inc. lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,708 shares of the coffee company’s stock after selling 186 shares during the quarter. DeDora Capital Inc.’s holdings in Starbucks were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SBUX. Game Plan Financial Advisors LLC acquired a new position in shares of Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. acquired a new position in Starbucks in the second quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new position in Starbucks in the first quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in Starbucks in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.2%

Shares of NASDAQ:SBUX opened at $85.36 on Friday. The firm has a fifty day moving average of $85.72 and a two-hundred day moving average of $87.40. The firm has a market capitalization of $97.03 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 4.22 and a beta of 1.01. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

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

Starbucks Increases Dividend

The firm also recently disclosed 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. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. 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 dividend payout ratio (DPR) is presently 105.17%.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. Citigroup decreased their price target on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday. Bank of America raised 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. Barclays raised their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Cowen reaffirmed a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.76.

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.