Starbucks Corporation $SBUX Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,835,800 shares of the coffee company’s stock after buying an additional 14,410 shares during the period. Envestnet Asset Management Inc. owned about 0.34% of Starbucks worth $351,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Resonant Capital Advisors LLC lifted its position in Starbucks by 12.5% during the second quarter. Resonant Capital Advisors LLC now owns 4,804 shares of the coffee company’s stock valued at $440,000 after buying an additional 535 shares in the last quarter. Hixon Zuercher LLC lifted its position in shares of Starbucks by 0.9% during the second quarter. Hixon Zuercher LLC now owns 28,167 shares of the coffee company’s stock worth $2,581,000 after purchasing an additional 252 shares in the last quarter. New Hampshire Trust lifted its position in shares of Starbucks by 4.7% during the second quarter. New Hampshire Trust now owns 7,935 shares of the coffee company’s stock worth $727,000 after purchasing an additional 359 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Starbucks by 25.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 378,939 shares of the coffee company’s stock worth $34,722,000 after purchasing an additional 77,648 shares in the last quarter. Finally, Prudent Man Advisors LLC lifted its position in shares of Starbucks by 33.4% during the second quarter. Prudent Man Advisors LLC now owns 9,539 shares of the coffee company’s stock worth $874,000 after purchasing an additional 2,389 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $86.09 on Monday. The stock has a market capitalization of $97.86 billion, a PE ratio of 37.11, a P/E/G ratio of 4.32 and a beta of 1.01. The firm’s fifty day moving average price is $85.01 and its 200 day moving average price is $87.52. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast 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. Shareholders 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 payout ratio is presently 105.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on SBUX shares. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. TD Cowen reduced their target price on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, October 10th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Citigroup cut their price target on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. One research 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.80.

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.