Starbucks Corporation $SBUX Shares Bought by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,202 shares of the coffee company’s stock after acquiring an additional 1,060 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Starbucks were worth $568,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Smith Thornton Advisors LLC acquired a new stake in Starbucks in the second quarter worth $376,000. Wallace Advisory Group LLC acquired a new stake in Starbucks during the 2nd quarter worth about $568,000. Advantage Trust Co lifted its holdings in shares of Starbucks by 31.0% during the 2nd quarter. Advantage Trust Co now owns 1,690 shares of the coffee company’s stock valued at $155,000 after buying an additional 400 shares during the last quarter. DecisionMap Wealth Management LLC raised its stake in shares of Starbucks by 4.2% in the 2nd quarter. DecisionMap Wealth Management LLC now owns 7,174 shares of the coffee company’s stock valued at $657,000 after acquiring an additional 290 shares in the last quarter. Finally, Probity Advisors Inc. boosted its position in Starbucks by 3.7% during the second quarter. Probity Advisors Inc. now owns 23,717 shares of the coffee company’s stock worth $2,173,000 after purchasing an additional 856 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. CICC Research initiated coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price for the company. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada lifted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Barclays boosted their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.60.

Starbucks Stock Performance

Starbucks stock opened at $85.90 on Wednesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a fifty day moving average of $85.42 and a 200-day moving average of $87.40. The stock has a market capitalization of $97.64 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast 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. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

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.