J.W. Cole Advisors Inc. Increases Stake in Starbucks Corporation $SBUX

J.W. Cole Advisors Inc. increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 30,149 shares of the coffee company’s stock after purchasing an additional 1,871 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Starbucks were worth $2,763,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SBUX. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the 2nd quarter valued at $25,000. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the 2nd quarter worth about $26,000. CBIZ Investment Advisory Services LLC increased its position 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. MTM Investment Management LLC bought a new stake in Starbucks in the 2nd quarter worth about $28,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. Guggenheim upped their price objective on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Barclays cut their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Citigroup dropped their price objective on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. One 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Stock Performance

Shares of SBUX opened at $86.70 on Friday. The business’s 50-day moving average is $84.01 and its two-hundred day moving average is $87.70. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a market capitalization of $98.59 billion, a P/E ratio of 52.87, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current 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 issued a dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.