Simplicity Wealth LLC Acquires 2,119 Shares of Starbucks Corporation $SBUX

Simplicity Wealth LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 18.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 13,608 shares of the coffee company’s stock after acquiring an additional 2,119 shares during the period. Simplicity Wealth LLC’s holdings in Starbucks were worth $1,247,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in Starbucks in the 2nd quarter worth approximately $26,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Starbucks by 125.2% in 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 in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks during the first quarter worth $29,000. Finally, Nova Wealth Management Inc. grew its stake in Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI reiterated an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Stifel Nicolaus raised their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Saturday, September 27th. Finally, UBS Group increased their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Price Performance

NASDAQ:SBUX opened at $82.11 on Tuesday. The firm has a market capitalization of $93.33 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 4.25 and a beta of 1.01. The business has a 50 day simple moving average of $87.33 and a 200-day simple moving average of $88.35. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share 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 issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. Starbucks’s dividend payout ratio (DPR) is 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.