Starbucks Corporation $SBUX Shares Purchased by Retirement Planning Group LLC

Retirement Planning Group LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,715 shares of the coffee company’s stock after purchasing an additional 227 shares during the quarter. Retirement Planning Group LLC’s holdings in Starbucks were worth $1,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. D.A. Davidson & CO. increased its position in shares of Starbucks by 0.5% during the 2nd quarter. D.A. Davidson & CO. now owns 202,840 shares of the coffee company’s stock worth $18,586,000 after purchasing an additional 1,087 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Starbucks by 69.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 119,485 shares of the coffee company’s stock valued at $10,948,000 after acquiring an additional 48,869 shares in the last quarter. St. Johns Investment Management Company LLC grew its position in Starbucks by 20.6% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 6,202 shares of the coffee company’s stock valued at $568,000 after acquiring an additional 1,060 shares in the last quarter. Smith Thornton Advisors LLC acquired a new position in Starbucks in the 2nd quarter valued at about $376,000. Finally, Wallace Advisory Group LLC acquired a new position in Starbucks in the 2nd quarter valued at about $568,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Guggenheim lifted their price objective on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, BTIG Research set a $105.00 price objective on Starbucks in a research note on Thursday, September 25th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.60.

Starbucks Stock Up 1.6%

SBUX stock opened at $85.90 on Wednesday. The business has a 50 day moving average price of $85.42 and a 200 day moving average price of $87.40. The stock has a market cap of $97.64 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 4.24 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its 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). The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. The ex-dividend date 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 (DPR) 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.