West Family Investments Inc. Has $623,000 Stock Position in Starbucks Corporation $SBUX

West Family Investments Inc. increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 43.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,804 shares of the coffee company’s stock after purchasing an additional 2,070 shares during the period. West Family Investments Inc.’s holdings in Starbucks were worth $623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. Chelsea Counsel Co. bought a new stake in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC raised its holdings in 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 purchasing an additional 159 shares during the period. MTM Investment Management LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $28,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks in the 1st quarter valued at $29,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.4%

Shares of Starbucks stock opened at $87.04 on Friday. The stock has a market cap of $98.97 billion, a P/E ratio of 53.07, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The business’s 50 day moving average is $84.06 and its 200-day moving average is $87.71.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Starbucks’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. Starbucks’s payout ratio is 151.22%.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. TD Cowen reissued a “hold” rating and set a $84.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Finally, Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Company 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.