Probity Advisors Inc. Boosts Holdings in Starbucks Corporation $SBUX

Probity Advisors Inc. raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,717 shares of the coffee company’s stock after purchasing an additional 856 shares during the quarter. Probity Advisors Inc.’s holdings in Starbucks were worth $2,173,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 worth $10,991,923,000 after acquiring an additional 953,361 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 worth $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Starbucks during the 1st quarter worth about $1,379,619,000. Goldman Sachs Group Inc. boosted its stake 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 worth $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Starbucks during the 1st quarter worth about $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Loop Capital set a $165.00 target price on shares of Starbucks in a research note on Tuesday, August 12th. Stifel Nicolaus upped their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group set a $94.00 price target on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday. TD Securities restated a “hold” rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Finally, Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday. 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 company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.60.

Starbucks Trading Down 1.0%

SBUX stock opened at $84.53 on Tuesday. The company has a market cap of $96.09 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 4.22 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a 50-day moving average of $85.57 and a two-hundred day moving average of $87.41.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates 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 was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

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.