Nicholson Wealth Management Group LLC Boosts Position in Starbucks Corporation $SBUX

Nicholson Wealth Management Group LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,173 shares of the coffee company’s stock after acquiring an additional 184 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Starbucks were worth $1,482,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of 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 acquiring an additional 953,361 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Starbucks by 22.3% during 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 acquiring an additional 3,545,655 shares during the last quarter. Nuveen LLC bought a new stake in shares of Starbucks during the 1st quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. boosted its position in shares of Starbucks by 59.5% during 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 acquiring an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter valued at about $817,759,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $85.36 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a 50 day moving average price of $85.72 and a two-hundred day moving average price of $87.49. The company has a market capitalization of $97.03 billion, a P/E ratio of 36.79, a PEG ratio of 4.17 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities 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 given 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 yield of 2.9%. Starbucks’s dividend payout ratio is presently 105.17%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research report 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 report on Tuesday, June 24th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Finally, BTIG Research set a $105.00 target price on Starbucks in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.76.

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.