Leo Wealth LLC Takes $282,000 Position in Starbucks Corporation $SBUX

Leo Wealth LLC purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,079 shares of the coffee company’s stock, valued at approximately $282,000.

A number of other institutional investors have also recently made changes to their positions in the stock. PUREfi Wealth LLC purchased a new position in shares of Starbucks in the second quarter worth approximately $286,000. Narwhal Capital Management boosted its holdings in shares of Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after buying an additional 9,282 shares during the last quarter. Napa Wealth Management purchased a new position in shares of Starbucks in the first quarter worth approximately $1,435,000. Personal CFO Solutions LLC boosted its holdings in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after buying an additional 5,151 shares during the last quarter. Finally, First Manhattan CO. LLC. boosted its holdings in shares of Starbucks by 33.1% in the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after buying an additional 111,015 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Stifel Nicolaus lifted their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.56.

Starbucks Price Performance

Starbucks stock opened at $78.46 on Friday. The stock has a market cap of $89.19 billion, a P/E ratio of 33.82, a PEG ratio of 3.93 and a beta of 1.01. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm’s 50 day moving average price is $86.48 and its 200-day moving average price is $88.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.