REAP Financial Group LLC Increases Stake in Starbucks Corporation $SBUX

REAP Financial Group LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 119.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 362 shares of the coffee company’s stock after acquiring an additional 197 shares during the period. REAP Financial Group LLC’s holdings in Starbucks were worth $33,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SBUX. Brighton Jones LLC lifted its holdings in shares of Starbucks by 86.5% during the 4th 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 period. Pallas Capital Advisors LLC lifted its holdings in shares of Starbucks by 99.4% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,870 shares of the coffee company’s stock worth $478,000 after acquiring an additional 2,428 shares during the period. GAMMA Investing LLC raised its holdings in Starbucks by 21.9% in the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after buying an additional 3,703 shares during the period. Simplicity Wealth LLC lifted its position in Starbucks by 383.7% during the first quarter. Simplicity Wealth LLC now owns 11,489 shares of the coffee company’s stock valued at $1,127,000 after buying an additional 9,114 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in Starbucks during the first quarter valued at approximately $336,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.5%

Shares of NASDAQ:SBUX opened at $80.04 on Thursday. The company has a fifty day simple moving average of $86.84 and a 200 day simple moving average of $88.25. The firm has a market cap of $90.98 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.01. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 EPS. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Sanford C. Bernstein increased their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. 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. Evercore ISI reissued an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.