PFG Advisors Buys 1,414 Shares of Starbucks Corporation $SBUX

PFG Advisors grew its position in Starbucks Corporation (NASDAQ:SBUX) by 39.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,036 shares of the coffee company’s stock after acquiring an additional 1,414 shares during the period. PFG Advisors’ holdings in Starbucks were worth $461,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Starbucks during the first quarter valued at about $1,379,619,000. Jennison Associates LLC bought a new position in Starbucks in the 1st quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. grew its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $100.50.

Starbucks Price Performance

Shares of Starbucks stock opened at $86.42 on Wednesday. The stock’s 50-day moving average is $83.79 and its 200 day moving average is $87.56. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm has a market cap of $98.23 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 4.28 and a beta of 1.02.

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%. Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio is 151.22%.

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.