Starbucks Corporation $SBUX Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 69.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 119,485 shares of the coffee company’s stock after buying an additional 48,869 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Starbucks were worth $10,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Alliance Wealth Advisors LLC lifted its stake in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares during the period. Brown Lisle Cummings Inc. increased its holdings in shares of Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC increased its holdings in shares of Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares in the last quarter. Ted Buchan & Co increased its holdings in shares of Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. increased its holdings in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Barclays cut their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group set a $94.00 target price on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday. BTIG Research set a $105.00 target price on shares of Starbucks in a report on Thursday, September 25th. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $101.80.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $85.50 on Thursday. The firm has a market cap of $97.19 billion, a PE ratio of 36.85, a PEG ratio of 4.31 and a beta of 1.01. The firm has a fifty day moving average of $85.25 and a 200 day moving average of $87.39. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the previous year, the company earned $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced 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 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 payout ratio is currently 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.