Maryland State Retirement & Pension System Purchases 2,298 Shares of Starbucks Corporation $SBUX

Maryland State Retirement & Pension System grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.3% in the second quarter, Holdings Channel reports. The fund owned 55,283 shares of the coffee company’s stock after buying an additional 2,298 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Starbucks were worth $5,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chelsea Counsel Co. bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its position in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in Starbucks in the first quarter worth $29,000. Finally, Nova Wealth Management Inc. lifted its position in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after buying an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SBUX shares. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday. Guggenheim raised their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Citigroup upgraded Starbucks from a “neutral” rating to a “mixed” rating in a research report on Thursday. Morgan Stanley restated an “overweight” rating and issued a $103.00 price target (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Barclays raised their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” 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, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Trading Down 0.3%

Shares of Starbucks stock opened at $79.78 on Friday. The firm has a market cap of $90.69 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock’s fifty day moving average price is $86.65 and its 200-day moving average price is $88.14.

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

Starbucks Increases Dividend

The company 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 dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is 105.17%.

Starbucks Company 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.