SevenBridge Financial Group LLC Boosts Stock Holdings in Starbucks Corporation $SBUX

SevenBridge Financial Group LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 39.0% during the second quarter, HoldingsChannel.com reports. The fund owned 26,124 shares of the coffee company’s stock after purchasing an additional 7,331 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Starbucks were worth $2,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $25,000. Transce3nd LLC lifted its position in Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Starbucks by 125.2% in the 1st 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 last quarter. Finally, MTM Investment Management LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $28,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $85.35 on Monday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The business has a fifty day moving average price of $84.00 and a 200 day moving average price of $87.69. The stock has a market capitalization of $97.05 billion, a P/E ratio of 52.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS 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 31.32%. The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is presently 151.22%.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Citigroup dropped their price target on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. UBS Group set a $94.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Morgan Stanley set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Barclays reduced their price target on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.44.

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.