KRS Capital Management LLC Boosts Position in Starbucks Corporation $SBUX

KRS Capital Management LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 12.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,662 shares of the coffee company’s stock after buying an additional 406 shares during the period. KRS Capital Management LLC’s holdings in Starbucks were worth $336,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new stake in Starbucks in the second quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks in the first quarter valued at approximately $27,000. Chelsea Counsel Co. acquired a new stake in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in Starbucks by 125.2% in 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 in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3%

Shares of NASDAQ SBUX opened at $79.78 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm’s 50-day simple moving average is $86.65 and its 200 day simple moving average is $88.14. The stock has a market cap of $90.69 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.95 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate 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 $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.1%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. Stifel Nicolaus raised their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Guggenheim raised their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

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.