Starbucks Corporation $SBUX Shares Bought by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,464 shares of the coffee company’s stock after buying an additional 2,205 shares during the period. Cohen Investment Advisors LLC’s holdings in Starbucks were worth $2,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PUREfi Wealth LLC acquired a new position in Starbucks in the second quarter valued at about $286,000. Napa Wealth Management acquired a new position in Starbucks in the first quarter valued at about $1,435,000. Personal CFO Solutions LLC lifted its position in Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. lifted its position in Starbucks by 33.1% in the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after buying an additional 111,015 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Starbucks in the first quarter valued at about $998,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SBUX shares. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price on the stock. in a research note on Thursday, July 17th. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Sanford C. Bernstein increased their target price on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $80.04 on Thursday. The stock’s 50-day moving average is $86.84 and its two-hundred day moving average is $88.25. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $90.98 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the company earned $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed 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 represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. 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.