Waterfront Wealth Inc. Raises Holdings in Starbucks Corporation $SBUX

Waterfront Wealth Inc. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 30.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,100 shares of the coffee company’s stock after buying an additional 1,200 shares during the quarter. Waterfront Wealth Inc.’s holdings in Starbucks were worth $467,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the second quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks in the first quarter valued at approximately $27,000. Chelsea Counsel Co. acquired a new stake in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks in the first quarter valued at approximately $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBUX shares. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Barclays lowered their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, BTIG Research set a $105.00 target price on shares of Starbucks in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Trading Down 1.5%

NASDAQ:SBUX opened at $84.17 on Thursday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a fifty day simple moving average of $84.68 and a 200-day simple moving average of $87.50. The company has a market capitalization of $95.68 billion, a P/E ratio of 36.28, a PEG ratio of 4.34 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Equities analysts forecast 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 given a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 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.