Berkeley Capital Partners LLC Has $1.99 Million Holdings in Starbucks Corporation $SBUX

Berkeley Capital Partners LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,729 shares of the coffee company’s stock after buying an additional 286 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Starbucks were worth $1,991,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $84.53 on Tuesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The firm’s 50 day moving average price is $85.57 and its two-hundred day moving average price is $87.41. The firm has a market cap of $96.09 billion, a P/E ratio of 36.44, a PEG ratio of 4.22 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 for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business 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 of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s payout ratio is presently 105.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday. Bank of America lifted their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.84.

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.