FLC Capital Advisors Buys 905 Shares of Starbucks Corporation $SBUX

FLC Capital Advisors boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,351 shares of the coffee company’s stock after acquiring an additional 905 shares during the period. FLC Capital Advisors’ holdings in Starbucks were worth $948,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after acquiring an additional 953,361 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Starbucks by 22.3% during the 1st 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 in the last quarter. Nuveen LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $1,379,619,000. Goldman Sachs Group Inc. boosted its holdings in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $817,759,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.2%

SBUX stock opened at $85.36 on Monday. The stock’s 50 day simple moving average is $85.72 and its 200 day simple moving average is $87.40. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market capitalization of $97.03 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 4.22 and a beta of 1.01.

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

Starbucks Increases Dividend

The firm also recently declared 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 an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. Sanford C. Bernstein boosted their target price on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Loop Capital set a $165.00 target price on shares of Starbucks in a report on Tuesday, August 12th. UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.76.

About Starbucks

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.