Mattern Capital Management LLC Increases Stake in Starbucks Corporation $SBUX

Mattern Capital Management LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 104,270 shares of the coffee company’s stock after purchasing an additional 2,700 shares during the period. Mattern Capital Management LLC’s holdings in Starbucks were worth $9,554,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBUX. Cromwell Holdings LLC boosted its holdings in shares of Starbucks by 108.1% during the 2nd quarter. Cromwell Holdings LLC now owns 3,754 shares of the coffee company’s stock valued at $344,000 after acquiring an additional 1,950 shares during the last quarter. Ashton Thomas Securities LLC boosted its holdings in shares of Starbucks by 2.9% during the 2nd quarter. Ashton Thomas Securities LLC now owns 8,211 shares of the coffee company’s stock valued at $752,000 after acquiring an additional 230 shares during the last quarter. River Street Advisors LLC boosted its holdings in shares of Starbucks by 1.5% during the 2nd quarter. River Street Advisors LLC now owns 13,004 shares of the coffee company’s stock valued at $1,192,000 after acquiring an additional 194 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $166,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Starbucks by 8.2% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 21,403 shares of the coffee company’s stock valued at $1,961,000 after acquiring an additional 1,619 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBUX. Stifel Nicolaus raised their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price target (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Sanford C. Bernstein raised their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Finally, Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Trading Up 2.7%

NASDAQ SBUX opened at $86.72 on Friday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $98.57 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 4.15 and a beta of 1.01. The company’s 50 day moving average is $87.72 and its two-hundred day moving average is $88.69.

Starbucks (NASDAQ:SBUX) last released 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 firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the business posted $0.93 EPS. Starbucks’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is 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.