Starbucks Corporation $SBUX Shares Acquired by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,628 shares of the coffee company’s stock after acquiring an additional 993 shares during the period. Starbucks accounts for 1.2% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 25th largest position. Cascade Investment Advisors Inc.’s holdings in Starbucks were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in Starbucks in the first quarter worth about $27,000. Chelsea Counsel Co. bought a new stake in Starbucks in the second quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the first quarter valued at approximately $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Barclays increased their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. TD Cowen lowered their target price on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a report on Friday. Stifel Nicolaus boosted their price objective on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.56.

Starbucks Stock Down 1.7%

NASDAQ:SBUX opened at $78.46 on Monday. The business’s 50-day moving average price is $86.48 and its 200 day moving average price is $87.87. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $89.19 billion, a P/E ratio of 33.82, a PEG ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 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.