Sax Wealth Advisors LLC Buys 1,739 Shares of Starbucks Corporation $SBUX

Sax Wealth Advisors LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 71.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,178 shares of the coffee company’s stock after purchasing an additional 1,739 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Starbucks were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. Pallas Capital Advisors LLC raised its position in shares of Starbucks by 99.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,870 shares of the coffee company’s stock valued at $478,000 after acquiring an additional 2,428 shares during the period. GAMMA Investing LLC raised its position in shares of 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 period. Accurate Wealth Management LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at approximately $336,000. Finally, CX Institutional raised its position in shares of Starbucks by 1.8% in the 1st quarter. CX Institutional now owns 7,867 shares of the coffee company’s stock valued at $772,000 after acquiring an additional 138 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SBUX shares. Bank of America lifted their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Wells Fargo & Company boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Morgan Stanley restated an “overweight” rating and set a $103.00 target price (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Trading Down 0.3%

Shares of NASDAQ:SBUX opened at $79.78 on Friday. The stock’s fifty day simple moving average is $86.65 and its two-hundred day simple moving average is $88.14. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a market cap of $90.69 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.95 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business posted $0.93 earnings per share. Starbucks’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 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.