Sigma Planning Corp Has $2 Million Stock Holdings in Starbucks Corporation $SBUX

Sigma Planning Corp raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,872 shares of the coffee company’s stock after purchasing an additional 929 shares during the period. Sigma Planning Corp’s holdings in Starbucks were worth $2,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Nuveen LLC acquired a new position in Starbucks during the first quarter valued at approximately $1,379,619,000. Jennison Associates LLC acquired a new position in Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new position in Starbucks during the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. grew its holdings in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $79.60 on Wednesday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm’s fifty day moving average price is $84.19 and its two-hundred day moving average price is $87.50. The company has a market capitalization of $90.48 billion, a P/E ratio of 48.54, a P/E/G ratio of 4.28 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect 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 dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is presently 151.22%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Guggenheim increased their price target on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. TD Cowen restated a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Citigroup lowered their price objective on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.