Lakeshore Capital Group Inc. Boosts Holdings in Starbucks Corporation $SBUX

Lakeshore Capital Group Inc. lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,547 shares of the coffee company’s stock after purchasing an additional 1,268 shares during the period. Lakeshore Capital Group Inc.’s holdings in Starbucks were worth $692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliance Wealth Advisors LLC lifted its position in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares during the period. Brown Lisle Cummings Inc. lifted its position in Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after acquiring an additional 117 shares during the period. Diligent Investors LLC lifted its position in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after acquiring an additional 117 shares during the period. Ted Buchan & Co lifted its position in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. lifted its position in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after acquiring an additional 122 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. 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 research report on Friday, July 11th. Wells Fargo & Company lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Stock Performance

NASDAQ:SBUX opened at $81.29 on Wednesday. The firm has a market cap of $92.40 billion, a P/E ratio of 35.04, a P/E/G ratio of 4.05 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a 50-day simple moving average of $87.09 and a two-hundred day simple moving average of $88.30.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. 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.