Bell & Brown Wealth Advisors LLC Boosts Stake in Starbucks Corporation $SBUX

Bell & Brown Wealth Advisors LLC lifted its position in Starbucks Corporation (NASDAQ:SBUX) by 0.8% in the second quarter, Holdings Channel.com reports. The firm owned 48,572 shares of the coffee company’s stock after purchasing an additional 396 shares during the quarter. Starbucks makes up 1.6% of Bell & Brown Wealth Advisors LLC’s holdings, making the stock its 25th biggest holding. Bell & Brown Wealth Advisors LLC’s holdings in Starbucks were worth $4,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Nuveen LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $1,379,619,000. Jennison Associates LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $817,759,000. Polen Capital Management LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $503,539,000. Goldman Sachs Group Inc. boosted its holdings in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Starbucks by 22.3% in the 1st 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. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. CICC Research assumed coverage on Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective for the company. Stifel Nicolaus upped their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Bank of America boosted their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $102.76.

Starbucks Trading Up 1.2%

NASDAQ SBUX opened at $85.36 on Friday. The stock has a 50-day moving average of $85.72 and a 200-day moving average of $87.49. The firm has a market cap of $97.03 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 4.17 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly 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). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given 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 of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 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.