Coerente Capital Management Increases Stock Holdings in Starbucks Corporation $SBUX

Coerente Capital Management boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 0.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 210,020 shares of the coffee company’s stock after purchasing an additional 906 shares during the period. Starbucks comprises about 3.5% of Coerente Capital Management’s investment portfolio, making the stock its 13th biggest position. Coerente Capital Management’s holdings in Starbucks were worth $19,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PUREfi Wealth LLC purchased a new position in Starbucks in the second quarter worth about $286,000. Narwhal Capital Management lifted its position in shares of 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 in the last quarter. Napa Wealth Management purchased a new position in shares of Starbucks during the 1st quarter valued at about $1,435,000. Personal CFO Solutions LLC lifted its position in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares in the last quarter. Finally, First Manhattan CO. LLC. lifted its position in shares of Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after buying an additional 111,015 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SBUX shares. Barclays lifted their price objective on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Sanford C. Bernstein boosted their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, TD Securities reissued a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Stock Performance

Shares of SBUX opened at $79.78 on Friday. The company’s fifty day moving average is $86.65 and its 200 day moving average is $88.14. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $90.69 billion, a PE ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 105.17%.

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.