Stevens Capital Partners Takes $283,000 Position in Starbucks Corporation $SBUX

Stevens Capital Partners acquired a new position in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,180 shares of the coffee company’s stock, valued at approximately $283,000.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Starbucks by 4.8% in the first quarter. Fiera Capital Corp now owns 56,340 shares of the coffee company’s stock worth $5,526,000 after buying an additional 2,598 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Starbucks by 3.0% in the first quarter. Geneos Wealth Management Inc. now owns 21,778 shares of the coffee company’s stock worth $2,327,000 after buying an additional 643 shares during the last quarter. Federated Hermes Inc. raised its holdings in Starbucks by 1,178.2% in the first quarter. Federated Hermes Inc. now owns 68,065 shares of the coffee company’s stock valued at $6,676,000 after acquiring an additional 62,740 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Starbucks during the 1st quarter valued at $1,617,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Loop Capital set a $165.00 target price on shares of Starbucks in a research note on Tuesday, August 12th. Barclays cut their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Guggenheim lifted their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. UBS Group set a $94.00 price target on Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Price Performance

NASDAQ:SBUX opened at $86.70 on Thursday. The firm has a market capitalization of $98.59 billion, a P/E ratio of 52.87, a P/E/G ratio of 4.28 and a beta of 1.02. The business has a 50 day simple moving average of $83.95 and a 200 day simple moving average of $87.70. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. Research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is presently 151.22%.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.