Starbucks Corporation $SBUX Stock Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.4% in the 2nd quarter, Holdings Channel reports. The fund owned 3,835,800 shares of the coffee company’s stock after buying an additional 14,410 shares during the period. Envestnet Asset Management Inc.’s holdings in Starbucks were worth $351,474,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SBUX. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks during the second quarter worth about $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks during the second quarter worth about $26,000. Hughes Financial Services LLC bought a new position in Starbucks in the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks in the 1st quarter valued at about $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.8%

Shares of NASDAQ SBUX opened at $86.09 on Monday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market capitalization of $97.86 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 4.32 and a beta of 1.01. The firm has a 50-day moving average of $85.01 and a two-hundred day moving average of $87.52.

Starbucks (NASDAQ:SBUX) last issued 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the company posted $0.93 earnings per share. Starbucks’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is a boost 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%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SBUX shares. Guggenheim increased their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Loop Capital set a $165.00 target price on shares of Starbucks in a research report on Tuesday, August 12th. Finally, Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $101.80.

Starbucks 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.