Precision Wealth Strategies LLC Takes Position in Starbucks Corporation $SBUX

Key Points

• Precision Wealth Strategies LLC acquired 5,878 shares of Starbucks Corporation, valued at approximately $539,000, as noted in their latest 13F filing.
• Analysts have mixed opinions on Starbucks stock, with Jefferies lowering their rating to "underperform" and other firms adjusting their price targets, resulting in an average rating of "Moderate Buy" with a consensus target of $104.00.
• Starbucks announced an increase in its quarterly dividend to $0.62, representing a 2.9% yield, and its dividend payout ratio is now at 105.17%.

Precision Wealth Strategies LLC bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,878 shares of the coffee company's stock, valued at approximately $539,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. NBC Securities Inc. increased its position in Starbucks by 166,860.0% during the 1st quarter. NBC Securities Inc. now owns 8,348 shares of the coffee company's stock worth $818,000 after buying an additional 8,343 shares during the period. Merit Financial Group LLC increased its position in Starbucks by 6.0% during the 1st quarter. Merit Financial Group LLC now owns 73,358 shares of the coffee company's stock worth $7,196,000 after buying an additional 4,177 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of Starbucks by 2.4% during the first quarter. ST Germain D J Co. Inc. now owns 7,192 shares of the coffee company's stock worth $705,000 after buying an additional 171 shares in the last quarter. Finally, RFG Advisory LLC boosted its position in shares of Starbucks by 17.2% in the first quarter. RFG Advisory LLC now owns 12,331 shares of the coffee company's stock valued at $1,210,000 after acquiring an additional 1,807 shares during the period. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a research report on Thursday, July 17th. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $103.00 target price (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, BTIG Research set a $105.00 price target on Starbucks in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and a consensus price target of $104.00.

Starbucks Stock Performance

Shares of SBUX opened at $84.40 on Thursday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $95.94 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 5.12 and a beta of 1.01. The business's fifty day moving average is $87.86 and its 200-day moving average is $88.77.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. As a group, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 an increase from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks's dividend payout ratio (DPR) is 105.17%.

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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