Personal CFO Solutions LLC Acquires 3,682 Shares of Starbucks Corporation $SBUX

Personal CFO Solutions LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 39.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,936 shares of the coffee company’s stock after purchasing an additional 3,682 shares during the period. Personal CFO Solutions LLC’s holdings in Starbucks were worth $1,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PUREfi Wealth LLC purchased a new stake in Starbucks in the second quarter worth approximately $286,000. Narwhal Capital Management raised its stake in Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares during the last quarter. Napa Wealth Management bought a new position in shares of Starbucks during the 1st quarter valued at $1,435,000. Morningstar Investment Management LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in shares of Starbucks in the second quarter worth $1,289,000. 72.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This represents a 28.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen reissued a “hold” rating and issued a $84.00 target price on shares of Starbucks in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased 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. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Mizuho raised shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. Finally, Citigroup dropped their price target 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. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Trading Down 1.3%

Shares of NASDAQ:SBUX opened at $82.62 on Friday. The stock has a 50 day moving average of $83.76 and a 200 day moving average of $87.57. The company has a market cap of $93.91 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS 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 firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the previous year, the business posted $0.80 EPS. Starbucks’s revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. Starbucks’s dividend payout ratio is presently 151.22%.

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.