White Pine Capital LLC Purchases 1,175 Shares of Starbucks Corporation $SBUX

White Pine Capital LLC raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 41.2% during the second quarter, HoldingsChannel.com reports. The fund owned 4,026 shares of the coffee company’s stock after buying an additional 1,175 shares during the quarter. White Pine Capital LLC’s holdings in Starbucks were worth $369,000 at the end of the most recent quarter.

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

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $85.35 on Friday. The firm’s 50 day simple moving average is $83.83 and its two-hundred day simple moving average is $87.59. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market capitalization of $97.05 billion, a P/E ratio of 52.04, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its 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 net margin of 4.99% and a negative return on equity of 31.84%. The company had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was up 5.5% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. 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 payout ratio is presently 151.22%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Mizuho upgraded shares of Starbucks to a “hold” rating in a research report on Tuesday, October 28th. TD Cowen restated a “hold” rating and set a $84.00 price target on shares of Starbucks in a research report on Thursday, October 30th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the company an “outperform” rating 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 issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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.