Atlantic Union Bankshares Corp Has $5.73 Million Stake in Starbucks Corporation $SBUX

Atlantic Union Bankshares Corp lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 58.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 62,544 shares of the coffee company’s stock after buying an additional 23,173 shares during the period. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $5,731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in Starbucks by 7.9% in the second quarter. First Horizon Advisors Inc. now owns 259,273 shares of the coffee company’s stock valued at $23,757,000 after buying an additional 19,007 shares during the period. Cloud Capital Management LLC lifted its position in shares of Starbucks by 5.4% during the 2nd quarter. Cloud Capital Management LLC now owns 3,322 shares of the coffee company’s stock valued at $298,000 after acquiring an additional 171 shares during the period. ORBA Wealth Advisors L.L.C. boosted its stake in Starbucks by 78.3% during the second quarter. ORBA Wealth Advisors L.L.C. now owns 4,199 shares of the coffee company’s stock worth $385,000 after acquiring an additional 1,844 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Starbucks by 30.8% in the second quarter. Moors & Cabot Inc. now owns 21,840 shares of the coffee company’s stock worth $2,001,000 after purchasing an additional 5,141 shares during the period. Finally, Blue Barn Wealth LLC increased its stake in Starbucks by 45.3% in the second quarter. Blue Barn Wealth LLC now owns 3,839 shares of the coffee company’s stock valued at $352,000 after purchasing an additional 1,196 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.8%

SBUX stock opened at $82.22 on Friday. The firm has a market capitalization of $93.46 billion, a PE ratio of 50.13, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s 50 day moving average is $83.98 and its 200-day moving average is $87.43.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS 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 firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is 151.22%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Barclays reduced their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Wells Fargo & Company set a $100.00 target price on Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Stifel Nicolaus lifted their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $100.50.

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.