Claro Advisors LLC Has $579,000 Position in Starbucks Corporation $SBUX

Claro Advisors LLC lowered its holdings in Starbucks Corporation (NASDAQ:SBUX) by 54.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,320 shares of the coffee company’s stock after selling 7,435 shares during the quarter. Claro Advisors LLC’s holdings in Starbucks were worth $579,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Cassaday & Co Wealth Management LLC grew its position in Starbucks by 11.7% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 6,529 shares of the coffee company’s stock valued at $598,000 after purchasing an additional 682 shares during the period. NewSquare Capital LLC grew its position in Starbucks by 46.5% in the 2nd quarter. NewSquare Capital LLC now owns 643 shares of the coffee company’s stock valued at $59,000 after purchasing an additional 204 shares during the period. McGinn Penninger Investment Management Inc. boosted its holdings in Starbucks by 76.7% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 61,640 shares of the coffee company’s stock worth $5,648,000 after acquiring an additional 26,760 shares during the last quarter. Elyxium Wealth LLC purchased a new position in Starbucks during the 2nd quarter worth $205,000. Finally, Marest Capital LLC purchased a new position in Starbucks during the 2nd quarter worth $210,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 4.1%

Shares of SBUX opened at $82.88 on Thursday. The business’s 50-day moving average price is $84.09 and its 200-day moving average price is $87.47. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market cap of $94.21 billion, a PE ratio of 50.54, a P/E/G ratio of 4.28 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 net margin of 4.99% and a negative return on equity of 31.84%. The company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect 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. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. 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. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. Starbucks’s payout ratio is presently 151.22%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Morgan Stanley set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Sanford C. Bernstein set a $100.00 target price on Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada set a $100.00 target price on Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.50.

About Starbucks

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.