Cornerstone Wealth Group LLC Buys 328 Shares of Starbucks Corporation $SBUX

Cornerstone Wealth Group LLC raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,665 shares of the coffee company’s stock after acquiring an additional 328 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Starbucks were worth $519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alliance Wealth Advisors LLC lifted 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 valued at $474,000 after acquiring an additional 108 shares during the period. Brown Lisle Cummings Inc. raised its holdings in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after buying an additional 117 shares during the last quarter. Diligent Investors LLC raised its holdings in shares of Starbucks by 1.9% in the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after buying an additional 117 shares during the last quarter. Ted Buchan & Co raised its holdings in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after buying an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its holdings in shares of 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 buying an additional 122 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. UBS Group lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Bank of America lifted their price target on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, TD Securities reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $102.96.

Starbucks Trading Up 1.4%

Shares of NASDAQ:SBUX opened at $81.15 on Wednesday. The stock has a market capitalization of $92.24 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.97 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The business has a 50-day moving average price of $86.11 and a two-hundred day moving average price of $87.70.

Starbucks (NASDAQ:SBUX) last announced 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). The firm 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

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