Cwm LLC Grows Stock Holdings in Starbucks Corporation $SBUX

Key Points

• Cwm LLC increased its holdings in Starbucks by 3.5%, now owning 148,478 shares worth approximately $13.6 million.
• Starbucks recently declared a quarterly dividend of $0.62, up from $0.61, with a dividend yield of 3.1%.
• Analysts have improved their price targets for Starbucks, with a consensus target now at $102.96, and most ratings indicating a Moderate Buy.

Cwm LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,478 shares of the coffee company's stock after buying an additional 5,064 shares during the period. Cwm LLC's holdings in Starbucks were worth $13,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC boosted its position in Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company's stock valued at $474,000 after buying an additional 108 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company's stock worth $760,000 after purchasing an additional 117 shares during the period. Diligent Investors LLC boosted its stake in shares of Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company's stock valued at $562,000 after purchasing an additional 117 shares in the last quarter. Ted Buchan & Co boosted its stake in shares of Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. boosted its stake in shares of Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after purchasing an additional 122 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. BTIG Research set a $105.00 price objective on shares of Starbucks in a research note on Thursday, September 25th. Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday, August 12th. TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Finally, Evercore ISI reiterated an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.96.

Starbucks Stock Up 2.0%

NASDAQ:SBUX opened at $80.03 on Tuesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a 50 day moving average of $86.29 and a 200 day moving average of $87.75. The stock has a market capitalization of $90.97 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.89 and a beta of 1.01.

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 net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the company earned $0.93 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's dividend payout ratio is 105.17%.

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.

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