Lakeshore Capital Group Inc. Buys 1,268 Shares of Starbucks Corporation $SBUX

Lakeshore Capital Group Inc. lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 20.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,547 shares of the coffee company’s stock after acquiring an additional 1,268 shares during the quarter. Lakeshore Capital Group Inc.’s holdings in Starbucks were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBUX. Hughes Financial Services LLC bought a new stake in Starbucks during the first quarter valued at approximately $27,000. Chelsea Counsel Co. bought a new stake in Starbucks during the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC grew its position 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 during the period. McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. grew its position in Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after buying an additional 234 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $81.29 on Wednesday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market capitalization of $92.40 billion, a P/E ratio of 35.04, a P/E/G ratio of 4.05 and a beta of 1.01. The firm’s 50 day simple moving average is $87.09 and its two-hundred day simple moving average is $88.30.

Starbucks (NASDAQ:SBUX) last released 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 company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period last year, the firm posted $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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 $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Analyst Ratings Changes

Several analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Evercore ISI restated an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an “overweight” rating in a report on Wednesday, July 30th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. Finally, Barclays lifted 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

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.