Wealth Enhancement Advisory Services LLC Reduces Stock Position in Starbucks Corporation $SBUX

Wealth Enhancement Advisory Services LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 434,565 shares of the coffee company’s stock after selling 21,469 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Starbucks were worth $35,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Park Avenue Securities LLC bought a new stake in Starbucks during the 2nd quarter valued at $5,224,000. Lewis Asset Management LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth $215,000. U.S. Capital Wealth Advisors LLC grew its position in shares of Starbucks by 806.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 79,679 shares of the coffee company’s stock worth $7,301,000 after buying an additional 70,892 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Starbucks by 7.4% during the second quarter. GAMMA Investing LLC now owns 22,114 shares of the coffee company’s stock valued at $2,026,000 after buying an additional 1,523 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $93.92 on Wednesday. The business has a fifty day moving average price of $86.37 and a 200-day moving average price of $87.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a market capitalization of $106.79 billion, a price-to-earnings ratio of 57.27, a PEG ratio of 1.96 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same period in the prior year, the business posted $0.80 EPS. Starbucks’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.6%. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SBUX shares. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Piper Sandler cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Susquehanna set a $114.00 target price on Starbucks in a report on Wednesday. Zacks Research downgraded Starbucks from a “hold” rating to a “strong sell” rating in a report on Monday, December 29th. Finally, Mizuho set a $86.00 price objective on Starbucks and gave the stock a “neutral” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $103.15.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.