Diligent Investors LLC Has $562,000 Position in Starbucks Corporation $SBUX

Diligent Investors LLC grew its position in Starbucks Corporation (NASDAQ:SBUX) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,132 shares of the coffee company’s stock after purchasing an additional 117 shares during the period. Diligent Investors LLC’s holdings in Starbucks were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Chelsea Counsel Co. bought a new stake in shares of Starbucks in the second quarter worth about $26,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its stake in 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 in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the 1st quarter worth approximately $29,000. Finally, Nova Wealth Management Inc. raised its holdings in Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBUX shares. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Stifel Nicolaus increased their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Price Performance

SBUX stock opened at $86.42 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. The company has a fifty day moving average price of $87.56 and a two-hundred day moving average price of $88.53.

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

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. 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 2.9%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

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.