Empirical Asset Management LLC Acquires 5,257 Shares of Starbucks Corporation $SBUX

Key Points

• Empirical Asset Management LLC significantly increased its stake in Starbucks Corp by 220.1% in the second quarter, acquiring an additional 5,257 shares, bringing its total holdings to 7,645 shares valued at approximately $700,000.
• Starbucks recently announced an increase in its quarterly dividend to $0.62, giving an annualized payout of $2.48 and a yield of 2.9%, with a dividend payout ratio of 105.17%.
• Starbucks reported earnings of $0.50 EPS for the last quarter, missing analysts' expectations, although revenue was up 3.8% year-over-year, totaling $9.46 billion.

Empirical Asset Management LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 220.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,645 shares of the coffee company's stock after buying an additional 5,257 shares during the quarter. Empirical Asset Management LLC's holdings in Starbucks were worth $700,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in Starbucks during the second quarter worth about $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the first quarter worth about $27,000. Chelsea Counsel Co. acquired a new stake in Starbucks during the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC grew its position in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after buying an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the first quarter worth about $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 1.8%

NASDAQ:SBUX opened at $84.34 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a 50 day moving average of $85.85 and a 200-day moving average of $87.57. The stock has a market capitalization of $95.87 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 4.10 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 earnings per share (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 during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks's dividend payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SBUX shares. UBS Group lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Guggenheim lifted their price objective on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 17th. Stifel Nicolaus lifted 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. Finally, Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.76.

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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