Starbucks Corporation $SBUX Holdings Raised by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,224 shares of the coffee company’s stock after purchasing an additional 1,115 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Starbucks were worth $937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 valued at $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP boosted its position in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Nuveen LLC bought a new position in Starbucks in the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. lifted its holdings in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Starbucks during the 1st quarter worth about $817,759,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

SBUX stock opened at $81.29 on Wednesday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a 50 day moving average price of $87.09 and a 200-day moving average price of $88.30. The firm has a market capitalization of $92.40 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 4.05 and a beta of 1.01.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders 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. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. Starbucks’s payout ratio is 105.17%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SBUX shares. Evercore ISI reissued an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. UBS Group boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Sanford C. Bernstein increased their price target on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. TD Cowen reissued a “hold” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Thursday, September 25th. Finally, BTIG Research set a $105.00 target price on Starbucks in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

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.