Catalyst Capital Advisors LLC Raises Holdings in Starbucks Corporation $SBUX

Catalyst Capital Advisors LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,049 shares of the coffee company’s stock after acquiring an additional 126 shares during the period. Catalyst Capital Advisors LLC’s holdings in Starbucks were worth $188,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Narwhal Capital Management boosted its position in Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares during the last quarter. PUREfi Wealth LLC purchased a new stake in Starbucks in the second quarter valued at approximately $286,000. Napa Wealth Management purchased a new stake in Starbucks in the first quarter valued at approximately $1,435,000. Morningstar Investment Management LLC purchased a new stake in Starbucks in the second quarter valued at approximately $653,000. Finally, Pegasus Asset Management Inc. purchased a new stake in Starbucks in the second quarter valued at approximately $1,289,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $86.09 on Friday. The company has a market cap of $97.86 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 4.28 and a beta of 1.01. The stock has a 50 day simple moving average of $85.01 and a 200-day simple moving average of $87.47. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced 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 analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. 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. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. BTIG Research set a $105.00 target price on Starbucks in a research report on Thursday, September 25th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. boosted 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. Stifel Nicolaus boosted their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.80.

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.