Concurrent Investment Advisors LLC Buys 36,385 Shares of Starbucks Corporation $SBUX

Concurrent Investment Advisors LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 60.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 96,153 shares of the coffee company's stock after purchasing an additional 36,385 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Starbucks were worth $8,811,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks during the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC increased its position in shares of Starbucks by 125.2% during the 1st 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. bought a new position in shares of Starbucks during the 1st quarter valued at approximately $29,000. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 1.7%

Shares of SBUX stock opened at $78.46 on Monday. The stock has a market capitalization of $89.19 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 3.89 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a fifty day simple moving average of $86.48 and a two-hundred day simple moving average of $87.87.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 negative return on equity of 36.23% and a net margin of 7.18%.The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is an increase from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.2%. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analysts Set New Price Targets

SBUX has been the topic of several analyst reports. Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Stifel Nicolaus boosted their price objective on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 11th. Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Evercore ISI restated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.56.

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.

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