Grandfield & Dodd LLC Boosts Holdings in Starbucks Corporation $SBUX

Grandfield & Dodd LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,012 shares of the coffee company’s stock after buying an additional 3,450 shares during the period. Grandfield & Dodd LLC’s holdings in Starbucks were worth $5,774,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBUX. Brighton Jones LLC increased its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares in the last quarter. Allen Capital Group LLC lifted its stake in Starbucks by 13.2% in the 1st quarter. Allen Capital Group LLC now owns 6,493 shares of the coffee company’s stock valued at $637,000 after buying an additional 758 shares in the last quarter. Mayflower Financial Advisors LLC boosted its holdings in Starbucks by 14.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 3,224 shares of the coffee company’s stock worth $316,000 after buying an additional 396 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Starbucks by 94.7% in the first quarter. Verdence Capital Advisors LLC now owns 11,147 shares of the coffee company’s stock valued at $1,093,000 after acquiring an additional 5,422 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its position in shares of Starbucks by 69.3% during the first quarter. Ascent Wealth Partners LLC now owns 4,885 shares of the coffee company’s stock worth $479,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. TD Cowen reiterated a “hold” rating and set a $84.00 price target on shares of Starbucks in a report on Thursday, October 30th. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. increased their price objective on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Starbucks Trading Down 0.9%

Shares of NASDAQ:SBUX opened at $86.44 on Friday. The stock’s 50-day moving average price is $83.77 and its two-hundred day moving average price is $87.55. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a market cap of $98.26 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter last year, the company earned $0.80 EPS. Starbucks’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s 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.