Swiss National Bank Boosts Stock Holdings in Starbucks Corporation $SBUX

Swiss National Bank lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 7.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,438,500 shares of the coffee company’s stock after purchasing an additional 240,700 shares during the period. Swiss National Bank owned about 0.30% of Starbucks worth $315,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Game Plan Financial Advisors LLC purchased a new stake in Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. MTM Investment Management LLC bought a new stake in Starbucks during the second quarter valued at about $28,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter valued at about $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 1.3%

Shares of Starbucks stock opened at $82.62 on Friday. The company has a 50 day moving average price of $83.76 and a 200 day moving average price of $87.57. The firm has a market capitalization of $93.91 billion, a P/E ratio of 50.38, a PEG ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, 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. Investors of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend 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 currently 151.22%.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent research reports. Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Starbucks in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $101.44.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director owned 53,096 shares in the company, valued at $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

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.