Financial Insights Inc. Purchases 540 Shares of Starbucks Corporation $SBUX

Financial Insights Inc. increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,373 shares of the coffee company’s stock after buying an additional 540 shares during the period. Financial Insights Inc.’s holdings in Starbucks were worth $950,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBUX. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter valued at $27,000. Chelsea Counsel Co. bought a new stake in Starbucks in the second quarter valued at $26,000. CBIZ Investment Advisory Services LLC increased its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Starbucks in the first quarter valued at $29,000. Finally, Nova Wealth Management Inc. increased its stake in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3%

SBUX opened at $86.42 on Friday. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company’s 50-day moving average price is $87.56 and its two-hundred day moving average price is $88.53.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm 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 represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BTIG Research set a $105.00 price target on shares of Starbucks in a research note on Thursday, September 25th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Barclays lifted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.00.

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.