Schnieders Capital Management LLC Buys 1,164 Shares of Starbucks Corporation $SBUX

Schnieders Capital Management LLC lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 47.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,642 shares of the coffee company’s stock after buying an additional 1,164 shares during the period. Schnieders Capital Management LLC’s holdings in Starbucks were worth $334,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Starbucks by 0.9% in 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 raised its position in shares of Starbucks by 22.3% in 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 bought a new position in shares of Starbucks in the 1st quarter worth about $1,379,619,000. Goldman Sachs Group Inc. raised its position in shares of Starbucks by 59.5% in 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 bought a new position in shares of Starbucks in the 1st quarter worth about $817,759,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 1.0%

Shares of SBUX opened at $84.53 on Tuesday. The company has a market capitalization of $96.09 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 4.22 and a beta of 1.01. The stock has a 50 day moving average of $85.57 and a 200 day moving average of $87.41. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, equities research analysts predict 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. 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 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of several research reports. Citigroup reduced their target price on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. TD Cowen reduced their target price on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, October 10th. Stifel Nicolaus raised their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Guggenheim raised their target price on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, CICC Research initiated coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price for the company. One investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.84.

Starbucks Company 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.