Janney Montgomery Scott LLC Has $23.13 Million Stock Holdings in Starbucks Corporation $SBUX

Janney Montgomery Scott LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,471 shares of the coffee company’s stock after acquiring an additional 12,377 shares during the period. Janney Montgomery Scott LLC’s holdings in Starbucks were worth $23,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Hughes Financial Services LLC bought a new position in shares of Starbucks in the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter valued at $29,000. Nova Wealth Management Inc. increased its stake in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Starbucks by 78.0% in the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the topic of several recent analyst reports. Bank of America lifted their price target on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Trading Down 0.2%

NASDAQ SBUX opened at $84.40 on Thursday. The business’s 50-day moving average price is $87.86 and its two-hundred day moving average price is $88.77. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a market capitalization of $95.94 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

Starbucks Company 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.