Hixon Zuercher LLC Increases Stock Position in Starbucks Corporation $SBUX

Hixon Zuercher LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,167 shares of the coffee company’s stock after purchasing an additional 252 shares during the period. Hixon Zuercher LLC’s holdings in Starbucks were worth $2,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Game Plan Financial Advisors LLC acquired a new position in shares of Starbucks in the second quarter worth $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter worth about $26,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its stake 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 buying an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $86.09 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 $97.86 billion, a PE ratio of 37.11, a P/E/G ratio of 4.32 and a beta of 1.01. The stock’s 50-day moving average is $85.01 and its two-hundred day moving average is $87.53.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is a positive change 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 annualized dividend and a yield of 2.9%. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SBUX. Barclays decreased their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $101.80.

About Starbucks

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.