14,068 Shares in Starbucks Corporation $SBUX Purchased by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, Holdings Channel reports. The firm purchased 14,068 shares of the coffee company’s stock, valued at approximately $1,289,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Brighton Jones LLC boosted its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. GAMMA Investing LLC raised its stake in Starbucks by 21.9% during the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock worth $2,020,000 after purchasing an additional 3,703 shares during the period. Goldstone Financial Group LLC purchased a new position in Starbucks during the first quarter worth about $217,000. Wealth Enhancement Advisory Services LLC raised its stake in Starbucks by 5.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company’s stock worth $46,375,000 after purchasing an additional 25,809 shares during the period. Finally, Hennessy Advisors Inc. raised its stake in Starbucks by 8.3% during the first quarter. Hennessy Advisors Inc. now owns 57,500 shares of the coffee company’s stock worth $5,640,000 after purchasing an additional 4,400 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 1.7%

NASDAQ SBUX opened at $78.46 on Monday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market capitalization of $89.19 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.89 and a beta of 1.01. The firm has a 50 day moving average of $86.48 and a two-hundred day moving average of $87.87.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SBUX shares. Bank of America lifted their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. CICC Research started coverage on shares of Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 target price on the stock. Guggenheim lifted their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, BTIG Research set a $105.00 price target on shares of Starbucks in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.56.

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.