Aberdeen Group plc Raises Position in Starbucks Corporation $SBUX

Aberdeen Group plc boosted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 976,998 shares of the coffee company's stock after buying an additional 49,014 shares during the period. Aberdeen Group plc owned 0.09% of Starbucks worth $90,143,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks during the second quarter valued at approximately $25,000. Chelsea Counsel Co. purchased a new position in shares of Starbucks during the second quarter valued at approximately $26,000. Hughes Financial Services LLC purchased a new position 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% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks during the first quarter valued at approximately $29,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.7%

NASDAQ:SBUX opened at $78.46 on Friday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market cap of $89.19 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.87 and a beta of 1.01. The company has a 50 day simple moving average of $86.48 and a two-hundred day simple moving average of $87.95.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm posted $0.93 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.2%. Starbucks's payout ratio is presently 105.17%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI reissued an "outperform" rating and set a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Royal Bank Of Canada raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Stifel Nicolaus raised their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, TD Cowen reduced their price target on shares of Starbucks from $88.00 to $84.00 and set a "hold" rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.56.

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.

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