PUREfi Wealth LLC Invests $286,000 in Starbucks Corporation $SBUX

PUREfi Wealth LLC purchased a new position in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,126 shares of the coffee company’s stock, valued at approximately $286,000.

A number of other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in shares of Starbucks by 91.8% in the second quarter. Valeo Financial Advisors LLC now owns 119,144 shares of the coffee company’s stock worth $10,917,000 after acquiring an additional 57,019 shares during the last quarter. Vantage Investment Partners LLC boosted its stake in shares of Starbucks by 0.4% in the second quarter. Vantage Investment Partners LLC now owns 141,268 shares of the coffee company’s stock worth $12,944,000 after acquiring an additional 500 shares during the last quarter. Three Bridge Wealth Advisors LLC boosted its stake in Starbucks by 11.4% during the second quarter. Three Bridge Wealth Advisors LLC now owns 9,612 shares of the coffee company’s stock worth $881,000 after buying an additional 984 shares during the last quarter. Merit Financial Group LLC boosted its stake in Starbucks by 12.1% during the second quarter. Merit Financial Group LLC now owns 82,215 shares of the coffee company’s stock worth $7,533,000 after buying an additional 8,857 shares during the last quarter. Finally, Keudell Morrison Wealth Management boosted its stake in Starbucks by 5.5% during the second quarter. Keudell Morrison Wealth Management now owns 11,542 shares of the coffee company’s stock worth $1,058,000 after buying an additional 603 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird raised 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 note on Tuesday, August 12th. Bank of America boosted their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Barclays boosted their price objective on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $86.42 on Monday. The stock’s 50-day moving average is $87.56 and its two-hundred day moving average is $88.46. 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 $98.23 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.