Janney Montgomery Scott LLC Has $23.13 Million Stock Holdings in Starbucks Corporation $SBUX

Janney Montgomery Scott LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 252,471 shares of the coffee company’s stock after acquiring an additional 12,377 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Starbucks were worth $23,134,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SBUX. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price target (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Guggenheim upped their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Citigroup dropped their price target on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus upped their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Trading Down 0.2%

Shares of NASDAQ SBUX opened at $84.40 on Thursday. The stock has a fifty day simple moving average of $87.86 and a two-hundred day simple moving average of $88.77. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market cap of $95.94 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the company posted $0.93 earnings per share. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s payout ratio is 105.17%.

Starbucks Company 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.