Morgan Dempsey Capital Management LLC Has $3.88 Million Position in Starbucks Corporation $SBUX

Morgan Dempsey Capital Management LLC reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,342 shares of the coffee company’s stock after selling 687 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Starbucks were worth $3,880,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Palmer Knight Co grew its holdings in Starbucks by 27.6% during the 2nd quarter. Palmer Knight Co now owns 96,441 shares of the coffee company’s stock worth $8,837,000 after acquiring an additional 20,862 shares during the period. Spirit of America Management Corp NY acquired a new stake in Starbucks during the 2nd quarter worth about $160,000. Koshinski Asset Management Inc. grew its stake in shares of Starbucks by 8.5% in the 2nd quarter. Koshinski Asset Management Inc. now owns 17,090 shares of the coffee company’s stock valued at $1,566,000 after buying an additional 1,338 shares during the period. Bell & Brown Wealth Advisors LLC grew its stake in shares of Starbucks by 0.8% in the 2nd quarter. Bell & Brown Wealth Advisors LLC now owns 48,572 shares of the coffee company’s stock valued at $4,451,000 after buying an additional 396 shares during the period. Finally, Nicholson Wealth Management Group LLC grew its stake in shares of Starbucks by 1.2% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 16,173 shares of the coffee company’s stock valued at $1,482,000 after buying an additional 184 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $85.36 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market cap of $97.03 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 4.22 and a beta of 1.01. The firm’s 50-day simple moving average is $85.72 and its 200 day simple moving average is $87.40.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results 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 business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the business posted $0.93 EPS. Starbucks’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 105.17%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBUX shares. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. TD Securities restated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Cowen restated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.76.

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.