Moors & Cabot Inc. Has $2 Million Stake in Starbucks Corporation $SBUX

Moors & Cabot Inc. boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 30.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,840 shares of the coffee company’s stock after purchasing an additional 5,141 shares during the period. Moors & Cabot Inc.’s holdings in Starbucks were worth $2,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the second quarter valued at $25,000. Chelsea Counsel Co. bought a new stake in Starbucks during the second quarter valued at $26,000. Hughes Financial Services LLC bought a new stake in Starbucks during the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position in 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 acquiring an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter valued at $29,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. Bank of America upped their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. BTIG Research restated a “buy” rating and issued a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. Finally, Guggenheim raised their target price on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $82.88 on Thursday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market cap of $94.21 billion, a price-to-earnings ratio of 50.54, a PEG ratio of 4.28 and a beta of 1.01. The firm’s 50-day simple moving average is $84.09 and its 200 day simple moving average is $87.47.

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 the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the previous year, the business posted $0.80 EPS. Starbucks’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.0%. 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 payout ratio is 151.22%.

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.