Apollon Wealth Management LLC Acquires 356 Shares of Starbucks Corporation $SBUX

Apollon Wealth Management LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 41,855 shares of the coffee company’s stock after purchasing an additional 356 shares during the period. Apollon Wealth Management LLC’s holdings in Starbucks were worth $3,835,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the second quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of 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 purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the first quarter valued at approximately $29,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $78.46 on Friday. The firm has a market cap of $89.19 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.87 and a beta of 1.01. The business’s fifty day moving average is $86.48 and its two-hundred day moving average is $87.95. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders 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 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SBUX. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Guggenheim upped their price target on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. upped their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.56.

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.