Starbucks Corporation $SBUX Shares Purchased by Carson Advisory Inc.

Carson Advisory Inc. increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 56.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,099 shares of the coffee company’s stock after acquiring an additional 1,838 shares during the quarter. Carson Advisory Inc.’s holdings in Starbucks were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. iA Global Asset Management Inc. boosted its position in Starbucks by 0.7% during the second quarter. iA Global Asset Management Inc. now owns 125,870 shares of the coffee company’s stock worth $11,533,000 after acquiring an additional 833 shares during the last quarter. Nicholas Company Inc. boosted its position in Starbucks by 17.8% during the second quarter. Nicholas Company Inc. now owns 656,365 shares of the coffee company’s stock worth $60,143,000 after acquiring an additional 99,305 shares during the last quarter. Leeward Financial Partners LLC boosted its position in Starbucks by 7.2% during the second quarter. Leeward Financial Partners LLC now owns 10,454 shares of the coffee company’s stock worth $958,000 after acquiring an additional 703 shares during the last quarter. Creekmur Asset Management LLC boosted its position in Starbucks by 36.2% during the second quarter. Creekmur Asset Management LLC now owns 12,475 shares of the coffee company’s stock worth $1,143,000 after acquiring an additional 3,316 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its position in Starbucks by 6.4% during the second quarter. Kovack Advisors Inc. now owns 10,693 shares of the coffee company’s stock worth $980,000 after acquiring an additional 642 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SBUX shares. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. TD Cowen reiterated a “hold” rating and issued a $84.00 target price on shares of Starbucks in a report on Thursday. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research note on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Starbucks Price Performance

Starbucks stock opened at $80.87 on Friday. The firm has a 50 day simple moving average of $84.43 and a 200-day simple moving average of $87.47. The stock has a market cap of $91.92 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. Starbucks’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share. Equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. Starbucks’s payout ratio is presently 151.22%.

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.