High Note Wealth LLC Has $711,000 Position in Starbucks Corporation $SBUX

High Note Wealth LLC reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,759 shares of the coffee company’s stock after selling 522 shares during the quarter. High Note Wealth LLC’s holdings in Starbucks were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP grew its position in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. Nuveen LLC bought a new position in Starbucks during the 1st quarter worth $1,379,619,000. Goldman Sachs Group Inc. increased its stake in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC bought a new position in Starbucks during the 1st quarter worth $817,759,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Stifel Nicolaus raised their price objective on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. TD Cowen restated a “hold” rating and issued a $95.00 price target on shares of Starbucks in a research report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Trading Down 5.0%

Shares of SBUX opened at $82.11 on Tuesday. The stock has a 50-day moving average price of $87.33 and a 200-day moving average price of $88.35. The company has a market cap of $93.33 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 4.25 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 posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, analysts predict 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 dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. Starbucks’s dividend payout ratio is 105.17%.

Starbucks 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.