Wedbush Securities Inc. Has $4.97 Million Position in Starbucks Corporation $SBUX

Wedbush Securities Inc. lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,226 shares of the coffee company’s stock after purchasing an additional 4,049 shares during the quarter. Wedbush Securities Inc.’s holdings in Starbucks were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Alliance Wealth Advisors LLC increased its holdings in shares of Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after buying an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. boosted its holdings in shares of Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after acquiring an additional 117 shares in the last quarter. Diligent Investors LLC grew its position in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after acquiring an additional 117 shares during the last quarter. Ted Buchan & Co increased its holdings in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its position in Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 4.1%

Shares of Starbucks stock opened at $85.57 on Friday. The business has a 50-day moving average price of $83.92 and a two-hundred day moving average price of $87.46. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $97.27 billion, a P/E ratio of 52.18, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its 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). 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 the consensus estimate of $9.41 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SBUX shares. Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Stifel Nicolaus upped their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $100.50.

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.