Smart Portfolios LLC Acquires 220 Shares of Starbucks Corporation $SBUX

Smart Portfolios LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,740 shares of the coffee company’s stock after purchasing an additional 220 shares during the period. Smart Portfolios LLC’s holdings in Starbucks were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Starbucks by 0.9% during 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 in the last quarter. Wellington Management Group LLP grew its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Nuveen LLC acquired a new stake in Starbucks in the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. grew its stake in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Starbucks in the first quarter valued at approximately $817,759,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.4%

SBUX stock opened at $81.15 on Wednesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s 50 day moving average is $86.11 and its 200-day moving average is $87.70. The firm has a market capitalization of $92.24 billion, a PE ratio of 34.98, a P/E/G ratio of 3.97 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted 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 the consensus estimate 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 for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised their price objective on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Bank of America raised their price objective on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their price objective on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, UBS Group raised their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.96.

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.