Marest Capital LLC Acquires Shares of 2,288 Starbucks Corporation $SBUX

Marest Capital LLC acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, HoldingsChannel.com reports. The firm acquired 2,288 shares of the coffee company’s stock, valued at approximately $210,000. Starbucks makes up about 0.2% of Marest Capital LLC’s investment portfolio, making the stock its 18th largest position.

Several other large investors have also modified their holdings of SBUX. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks during the second quarter worth approximately $25,000. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the second quarter worth approximately $26,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the first quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $80.96 on Tuesday. The firm has a market capitalization of $92.03 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock’s fifty day moving average is $84.33 and its two-hundred day moving average is $87.51.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. 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. Starbucks’s dividend payout ratio is 151.22%.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. Barclays cut their price target on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Sanford C. Bernstein set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Morgan Stanley set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Piper Sandler cut their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.50.

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.