Cohen Investment Advisors LLC Boosts Stock Position in Starbucks Corporation $SBUX

Cohen Investment Advisors LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,464 shares of the coffee company’s stock after purchasing an additional 2,205 shares during the period. Cohen Investment Advisors LLC’s holdings in Starbucks were worth $2,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. Pallas Capital Advisors LLC lifted its holdings in Starbucks by 99.4% in the first quarter. Pallas Capital Advisors LLC now owns 4,870 shares of the coffee company’s stock valued at $478,000 after acquiring an additional 2,428 shares during the period. GAMMA Investing LLC lifted its holdings in Starbucks by 21.9% in the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after acquiring an additional 3,703 shares during the period. Simplicity Wealth LLC lifted its holdings in Starbucks by 383.7% in the first quarter. Simplicity Wealth LLC now owns 11,489 shares of the coffee company’s stock valued at $1,127,000 after acquiring an additional 9,114 shares during the period. Finally, Accurate Wealth Management LLC acquired a new position in Starbucks in the first quarter valued at approximately $336,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Evercore ISI restated an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Barclays boosted their price objective on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. UBS Group boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Finally, Bank of America boosted their price objective on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Stock Performance

Shares of SBUX opened at $80.04 on Thursday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market capitalization of $90.98 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 4.01 and a beta of 1.01. The stock has a 50 day moving average price of $86.84 and a 200 day moving average price of $88.25.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, 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. Shareholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. 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 dividend payout ratio is presently 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.