Venturi Wealth Management LLC Purchases 2,576 Shares of Starbucks Corporation $SBUX

Venturi Wealth Management LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 18.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,401 shares of the coffee company’s stock after purchasing an additional 2,576 shares during the period. Venturi Wealth Management LLC’s holdings in Starbucks were worth $1,503,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Starbucks in the first quarter valued at about $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC bought a new position in Starbucks in the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. boosted its holdings in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX stock opened at $80.04 on Thursday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market cap of $90.98 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.01. The company has a fifty day moving average price of $86.84 and a two-hundred day moving average price of $88.25.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. Research analysts anticipate that Starbucks Corporation will post 2.99 EPS 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 $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.1%. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Stifel Nicolaus lifted their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

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.