Starbucks Corporation $SBUX Shares Acquired by Mount Vernon Associates Inc. MD

Mount Vernon Associates Inc. MD lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,157 shares of the coffee company’s stock after purchasing an additional 225 shares during the quarter. Starbucks comprises about 1.5% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 21st biggest position. Mount Vernon Associates Inc. MD’s holdings in Starbucks were worth $2,030,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. O Keefe Stevens Advisory Inc. boosted its holdings in shares of Starbucks by 24.6% during the second quarter. O Keefe Stevens Advisory Inc. now owns 11,433 shares of the coffee company’s stock worth $1,048,000 after purchasing an additional 2,257 shares during the last quarter. Financial Insights Inc. boosted its holdings in shares of Starbucks by 5.5% during the second quarter. Financial Insights Inc. now owns 10,373 shares of the coffee company’s stock worth $950,000 after purchasing an additional 540 shares during the last quarter. Diligent Investors LLC boosted its holdings in shares of Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the last quarter. Oak Hill Wealth Advisors LLC boosted its holdings in shares of Starbucks by 15.8% during the second quarter. Oak Hill Wealth Advisors LLC now owns 14,193 shares of the coffee company’s stock worth $1,347,000 after purchasing an additional 1,934 shares during the last quarter. Finally, LGT Fund Management Co Ltd. boosted its holdings in Starbucks by 108.7% in the second quarter. LGT Fund Management Co Ltd. now owns 4,993 shares of the coffee company’s stock valued at $458,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $86.42 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The business’s 50-day simple moving average is $87.56 and its 200 day simple moving average is $88.53. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). The firm had revenue of $9.46 billion during 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a report on Saturday, September 27th. Sanford C. Bernstein lifted their target price on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Citigroup reduced their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. Finally, Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.00.

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.