Crux Wealth Advisors Purchases 2,628 Shares of Starbucks Corporation $SBUX

Crux Wealth Advisors raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 31.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,954 shares of the coffee company’s stock after purchasing an additional 2,628 shares during the period. Crux Wealth Advisors’ holdings in Starbucks were worth $1,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Vanguard Group Inc. boosted its position in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares in the last quarter. Wellington Management Group LLP raised its stake in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. Nuveen LLC bought a new stake in Starbucks in the first quarter worth $1,379,619,000. Goldman Sachs Group Inc. boosted its holdings in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Starbucks in the first quarter worth $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SBUX shares. Loop Capital set a $165.00 price target on Starbucks in a research report on Tuesday, August 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Barclays increased their price target on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.76.

Starbucks Trading Up 1.2%

Shares of SBUX opened at $85.36 on Friday. The firm has a fifty day simple moving average of $85.72 and a two-hundred day simple moving average of $87.40. The firm has a market cap of $97.03 billion, a PE ratio of 36.79, a P/E/G ratio of 4.22 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. As a group, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. 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.