Starbucks Corporation $SBUX Position Increased by Blue Barn Wealth LLC

Blue Barn Wealth LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 45.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,839 shares of the coffee company’s stock after acquiring an additional 1,196 shares during the period. Blue Barn Wealth LLC’s holdings in Starbucks were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. acquired a new position in Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC bought a new position in Starbucks during the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% during the first 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 during the first quarter valued at about $29,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $79.60 on Wednesday. The company has a market cap 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. The stock’s 50-day moving average is $84.19 and its 200-day moving average is $87.50. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business 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 company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank Of Canada set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Mizuho upgraded Starbucks to a “hold” rating in a report on Tuesday, October 28th. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $100.50.

About Starbucks

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.