Starbucks Corporation $SBUX Shares Acquired by Souders Financial Advisors

Souders Financial Advisors lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 66.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,700 shares of the coffee company’s stock after acquiring an additional 2,272 shares during the period. Souders Financial Advisors’ holdings in Starbucks were worth $522,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SBUX. Narwhal Capital Management raised 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 worth $3,000,000 after acquiring an additional 9,282 shares in the last quarter. PUREfi Wealth LLC acquired a new stake in Starbucks during the 2nd quarter worth about $286,000. Napa Wealth Management purchased a new stake in Starbucks in the 1st quarter worth approximately $1,435,000. Morningstar Investment Management LLC acquired a new stake in Starbucks during the second quarter valued at $653,000. Finally, Pegasus Asset Management Inc. acquired a new position in Starbucks in the second quarter worth approximately $1,289,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

SBUX opened at $82.22 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a market capitalization of $93.46 billion, a P/E ratio of 50.13, a P/E/G ratio of 4.28 and a beta of 1.02. The firm’s fifty day moving average price is $83.98 and its two-hundred day moving average price is $87.43.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup cut their target price on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. UBS Group set a $94.00 target price on Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

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.