Probity Advisors Inc. Acquires 856 Shares of Starbucks Corporation $SBUX

Probity Advisors Inc. increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 3.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,717 shares of the coffee company’s stock after buying an additional 856 shares during the period. Probity Advisors Inc.’s holdings in Starbucks were worth $2,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new position in Starbucks in the second quarter worth approximately $25,000. Chelsea Counsel Co. bought a new position in Starbucks in the second quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks during the first quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter worth $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $84.53 on Tuesday. The stock’s fifty day moving average price is $85.57 and its 200 day moving average price is $87.41. 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 $96.09 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) 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 firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the company earned $0.93 earnings per share. Starbucks’s revenue was up 3.8% on a year-over-year basis. Research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Guggenheim upped their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Citigroup reduced their price target on Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $102.60.

Starbucks 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.