Nicholson Wealth Management Group LLC Acquires 184 Shares of Starbucks Corporation $SBUX

Nicholson Wealth Management Group LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,173 shares of the coffee company’s stock after acquiring an additional 184 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Starbucks were worth $1,482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks during the second quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its holdings 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 acquiring an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in Starbucks in the first quarter worth $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.2%

NASDAQ SBUX opened at $85.36 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 $97.03 billion, a P/E ratio of 36.79, a P/E/G ratio of 4.17 and a beta of 1.01. The stock’s fifty day moving average price is $85.72 and its 200-day moving average price is $87.49.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is 105.17%.

Analyst Ratings Changes

Several brokerages recently weighed in on SBUX. BTIG Research set a $105.00 price target on Starbucks in a research note on Thursday, September 25th. CICC Research began coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 price target on the stock. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, Barclays upped their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.76.

Starbucks 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.