Starbucks Corporation $SBUX Stake Increased by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,628 shares of the coffee company’s stock after buying an additional 993 shares during the period. Starbucks makes up about 1.2% of Cascade Investment Advisors Inc.’s holdings, making the stock its 25th biggest position. Cascade Investment Advisors Inc.’s holdings in Starbucks were worth $1,890,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBUX. Nuveen LLC acquired a new position in shares of Starbucks in the 1st quarter valued at about $1,379,619,000. Jennison Associates LLC acquired a new stake in shares of Starbucks during the first quarter worth approximately $817,759,000. Polen Capital Management LLC purchased a new position in Starbucks during the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP increased its stake in 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 buying an additional 3,545,655 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBUX. Barclays lifted their target price on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Evercore ISI restated an “outperform” rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Wells Fargo & Company upped their target price on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. TD Securities reiterated a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Finally, Bank of America increased their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.56.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $78.46 on Monday. The business’s 50-day simple moving average is $86.48 and its 200-day simple moving average is $87.87. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a market cap of $89.19 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 3.89 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 EPS 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 company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast 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 is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) 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.