Starbucks Corporation $SBUX Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 82,215 shares of the coffee company’s stock after purchasing an additional 8,857 shares during the quarter. Merit Financial Group LLC’s holdings in Starbucks were worth $7,533,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Alliance Wealth Advisors LLC increased its position in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares during the period. Diligent Investors LLC raised its position in Starbucks by 1.9% in the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the period. Ted Buchan & Co raised its position in Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. lifted its stake in shares of Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $86.42 on Monday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The business has a 50 day simple moving average of $87.56 and a 200 day simple moving average of $88.46. The firm has a market capitalization of $98.23 billion, a P/E ratio of 37.25, a P/E/G ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. Research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date is Friday, November 14th. This is an increase 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 dividend payout ratio (DPR) is 105.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. 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 research note on Wednesday, July 2nd. UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Citigroup cut their price objective on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

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.