Catalyst Capital Advisors LLC Raises Holdings in Starbucks Corporation $SBUX

Catalyst Capital Advisors LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,049 shares of the coffee company’s stock after purchasing an additional 126 shares during the period. Catalyst Capital Advisors LLC’s holdings in Starbucks were worth $188,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SBUX. Alliance Wealth Advisors LLC boosted its stake in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after buying an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC boosted its position in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares in the last quarter. Ted Buchan & Co boosted its position in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its position in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBUX. Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Citigroup decreased their target price on Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Finally, Morgan Stanley set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.80.

Starbucks Trading Up 0.8%

Starbucks stock opened at $86.09 on Friday. The firm has a market capitalization of $97.86 billion, a P/E ratio of 37.11, a PEG ratio of 4.28 and a beta of 1.01. The stock has a fifty day moving average price of $85.01 and a 200 day moving average price of $87.47. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid 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 payout ratio is currently 105.17%.

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.