First Pacific Financial Grows Stock Position in Starbucks Corporation $SBUX

First Pacific Financial increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 527.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,047 shares of the coffee company’s stock after purchasing an additional 3,402 shares during the quarter. First Pacific Financial’s holdings in Starbucks were worth $371,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter worth about $27,000. Chelsea Counsel Co. purchased a new position in Starbucks during the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its position in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter worth about $29,000. Finally, Nova Wealth Management Inc. raised its holdings in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after purchasing an additional 234 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $84.40 on Thursday. The company has a market cap of $95.94 billion, a P/E ratio of 36.38, a PEG ratio of 5.12 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The business’s 50-day simple moving average is $87.86 and its 200 day simple moving average is $88.77.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SBUX shares. Evercore ISI restated an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. CICC Research started coverage on Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective on the stock. Wells Fargo & Company raised their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Citigroup cut their price objective on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

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.