D.A. Davidson & CO. Increases Stake in Starbucks Corporation $SBUX

D.A. Davidson & CO. raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,840 shares of the coffee company’s stock after buying an additional 1,087 shares during the quarter. D.A. Davidson & CO.’s holdings in Starbucks were worth $18,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. boosted its position in shares of Starbucks by 69.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 119,485 shares of the coffee company’s stock valued at $10,948,000 after acquiring an additional 48,869 shares during the last quarter. St. Johns Investment Management Company LLC boosted its position in shares of Starbucks by 20.6% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 6,202 shares of the coffee company’s stock valued at $568,000 after acquiring an additional 1,060 shares during the last quarter. Smith Thornton Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $376,000. Wallace Advisory Group LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $568,000. Finally, Advantage Trust Co boosted its position in shares of Starbucks by 31.0% during the 2nd quarter. Advantage Trust Co now owns 1,690 shares of the coffee company’s stock valued at $155,000 after acquiring an additional 400 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. 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 report on Thursday, July 17th. CICC Research began coverage on Starbucks in a research report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price target for the company. Royal Bank Of Canada raised their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Citigroup lowered their price target on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $101.80.

Starbucks Trading Down 0.5%

NASDAQ:SBUX opened at $85.50 on Thursday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market cap of $97.19 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 4.31 and a beta of 1.01. The stock has a fifty day simple moving average of $85.25 and a 200-day simple moving average of $87.39.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is 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.