Evelyn Partners Investment Management Services Ltd Raises Stock Position in Starbucks Corporation $SBUX

Evelyn Partners Investment Management Services Ltd boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 444.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,089 shares of the coffee company’s stock after purchasing an additional 889 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Starbucks were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SBUX. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks in the second quarter worth about $25,000. Chelsea Counsel Co. acquired a new position in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its position in Starbucks by 125.2% in the 1st 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 in the last quarter. MTM Investment Management LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $28,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks during the 1st quarter valued at approximately $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on SBUX shares. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Finally, UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Stock Performance

Shares of SBUX stock opened at $85.35 on Friday. 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 $83.83 and its two-hundred day moving average is $87.63. The firm 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current 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 issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is presently 151.22%.

Insider Activity

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Starbucks 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.