Vest Financial LLC Boosts Stock Position in Starbucks Corporation $SBUX

Vest Financial LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 39.2% during the second quarter, Holdings Channel reports. The institutional investor owned 21,985 shares of the coffee company’s stock after buying an additional 6,196 shares during the period. Vest Financial LLC’s holdings in Starbucks were worth $2,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. GAMMA Investing LLC grew its position in Starbucks by 21.9% in the 1st quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after acquiring an additional 3,703 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Starbucks by 5.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company’s stock worth $46,375,000 after buying an additional 25,809 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Starbucks during the 1st quarter worth $819,000. Finally, Ritholtz Wealth Management grew its position in shares of Starbucks by 39.0% during the 1st quarter. Ritholtz Wealth Management now owns 17,452 shares of the coffee company’s stock worth $1,712,000 after buying an additional 4,898 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX stock opened at $81.15 on Wednesday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market capitalization of $92.24 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.97 and a beta of 1.01. The business’s 50-day moving average is $86.11 and its two-hundred day moving average is $87.70.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. On average, analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. CICC Research began coverage on Starbucks in a research report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. BTIG Research set a $105.00 price target on Starbucks in a research note on Thursday, September 25th. Finally, Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.96.

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.