Starbucks Corporation $SBUX Stake Raised by Horrell Capital Management Inc.

Horrell Capital Management Inc. increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 2.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,427 shares of the coffee company’s stock after purchasing an additional 597 shares during the quarter. Horrell Capital Management Inc.’s holdings in Starbucks were worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Game Plan Financial Advisors LLC bought a new position in Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter worth approximately $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 purchasing an additional 234 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBUX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Mizuho raised Starbucks to a “hold” rating in a research note on Tuesday, October 28th. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group downgraded 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $100.50.

Starbucks Stock Up 2.2%

Shares of Starbucks stock opened at $86.42 on Wednesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $98.23 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The business has a fifty day simple moving average of $83.79 and a 200-day simple moving average of $87.56.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend 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.