Starbucks Corporation $SBUX Shares Purchased by Atria Investments Inc

Atria Investments Inc grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,622 shares of the coffee company’s stock after purchasing an additional 21,818 shares during the period. Atria Investments Inc’s holdings in Starbucks were worth $16,917,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new position in Starbucks during the 1st quarter valued at about $1,379,619,000. Jennison Associates LLC acquired a new stake in shares of Starbucks during the first quarter worth about $817,759,000. Polen Capital Management LLC purchased a new position in shares of Starbucks in the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. grew 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, Wellington Management Group LLP increased its stake in Starbucks by 22.3% during 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 buying an additional 3,545,655 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on SBUX. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Guggenheim increased 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. TD Cowen lowered their price objective on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, October 10th. Stifel Nicolaus raised their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Loop Capital set a $165.00 price target on shares of Starbucks in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Trading Down 1.5%

Shares of NASDAQ:SBUX opened at $84.17 on Thursday. The firm has a 50 day simple moving average of $84.68 and a 200-day simple moving average of $87.50. The company has a market capitalization of $95.68 billion, a PE ratio of 36.28, a P/E/G ratio of 4.34 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm 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 dividend on an annualized basis and a dividend 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 presently 105.17%.

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.