Matrix Asset Advisors Inc. NY Has $18.76 Million Position in Starbucks Corporation $SBUX

Key Points

• Matrix Asset Advisors Inc. NY increased its position in Starbucks Corporation by 25.7%, now owning 204,713 shares valued at approximately $18.76 million.
• Starbucks recently declared a quarterly dividend of $0.62, up from its previous $0.61, resulting in an annualized dividend of $2.48.
• Starbucks stock has a current target price consensus of $103.56, with the company's recent earnings showing a quarterly revenue growth of 3.8% year-over-year.

Matrix Asset Advisors Inc. NY raised its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 25.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,713 shares of the coffee company's stock after purchasing an additional 41,852 shares during the quarter. Starbucks accounts for 1.9% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 20th biggest holding. Matrix Asset Advisors Inc. NY's holdings in Starbucks were worth $18,758,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in Starbucks during the 2nd quarter valued at $25,000. Chelsea Counsel Co. acquired a new stake in Starbucks during the 2nd quarter valued at $26,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC raised its stake in 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 period. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the first quarter worth $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Citigroup raised shares of Starbucks from a "neutral" rating to a "mixed" rating in a research note on Thursday. BTIG Research set a $105.00 price target on shares of Starbucks in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Starbucks in a research note on Wednesday. Finally, Sanford C. Bernstein upped their price target on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.56.

Starbucks Price Performance

Starbucks stock opened at $78.46 on Friday. The company has a market capitalization of $89.19 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 3.87 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company's fifty day moving average price is $86.48 and its two-hundred day moving average price is $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 the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

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

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.