Starbucks Corporation $SBUX Stake Boosted by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 2.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,695 shares of the coffee company’s stock after purchasing an additional 232 shares during the period. Sage Mountain Advisors LLC’s holdings in Starbucks were worth $888,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the 2nd quarter worth about $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the 2nd quarter worth about $26,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the 1st quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter worth about $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of SBUX opened at $86.09 on Friday. The firm’s 50 day moving average is $85.01 and its 200-day moving average is $87.53. The stock has a market capitalization of $97.86 billion, a P/E ratio of 37.11, a P/E/G ratio of 4.32 and a beta of 1.01. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. 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 is 105.17%.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. BTIG Research set a $105.00 price objective on shares of Starbucks in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Saturday. Bank of America increased their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.80.

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.