Perfromance Wealth Partners LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Perfromance Wealth Partners LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,022 shares of the coffee company’s stock after selling 3,350 shares during the quarter. Starbucks accounts for 0.4% of Perfromance Wealth Partners LLC’s portfolio, making the stock its 28th biggest holding. Perfromance Wealth Partners LLC’s holdings in Starbucks were worth $6,877,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. purchased a new stake in shares of Starbucks in the 4th quarter worth $25,000. Bromfield Sneider Wealth Advisors purchased a new stake in shares of Starbucks in the 1st quarter worth $25,000. Burleson & Company LLC lifted its holdings in shares of Starbucks by 2,660.0% in the 1st quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after buying an additional 266 shares during the period. Delos Wealth Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter worth $28,000. Finally, Herold Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter worth $29,000. 67.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Zabrina Jenkins sold 4,020 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares in the company, valued at $3,379,341. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Zabrina Jenkins sold 4,020 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares in the company, valued at $3,379,341. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mellody L. Hobson bought 54,750 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was purchased at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the transaction, the director now owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens assumed coverage on Starbucks in a research note on Thursday. They set an “equal weight” rating and a $91.00 price objective for the company. Robert W. Baird upped their price objective on Starbucks from $86.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. JPMorgan Chase & Co. upped their price objective on Starbucks from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 14th. Citigroup upped their price objective on Starbucks from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Starbucks from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $103.50.

Starbucks Stock Performance

Starbucks stock traded down $0.54 during midday trading on Friday, hitting $84.16. 430,361 shares of the company were exchanged, compared to its average volume of 8,858,840. The firm has a market capitalization of $96.57 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. Starbucks Co. has a fifty-two week low of $68.39 and a fifty-two week high of $117.80. The business has a fifty day simple moving average of $86.02 and a two-hundred day simple moving average of $81.48.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.22 billion. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.88 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 2.33%. Starbucks’s dividend payout ratio is currently 55.21%.

Starbucks Company Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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