Motley Fool Asset Management LLC Raises Stake in Starbucks Corporation $SBUX

Motley Fool Asset Management LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,758 shares of the coffee company’s stock after acquiring an additional 2,918 shares during the period. Motley Fool Asset Management LLC’s holdings in Starbucks were worth $5,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the 2nd quarter valued at about $25,000. Chelsea Counsel Co. bought a new stake in Starbucks during the 2nd quarter valued at about $26,000. Hughes Financial Services LLC bought a new stake in Starbucks during the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its stake in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks during the 1st quarter valued at about $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 1.3%

Shares of NASDAQ SBUX opened at $87.22 on Tuesday. The firm has a 50 day moving average of $84.90 and a 200 day moving average of $87.51. The firm has a market capitalization of $99.14 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. Sell-side 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 given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.8%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SBUX shares. BTIG Research set a $105.00 price objective on shares of Starbucks in a research note on Thursday, September 25th. TD Cowen reduced their price target on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, October 10th. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, Bank of America lifted their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

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.