Starbucks Corporation $SBUX Holdings Lifted by Copperwynd Financial LLC

Key Points

• Copperwynd Financial LLC increased its holdings in Starbucks Corporation by 335.7% during the second quarter, now owning 14,608 shares worth approximately $1.34 million.
• Starbucks recently announced a quarterly dividend of $0.62 per share, reflecting a slight increase from the previous rate, with an annualized yield of 3.1%.
• Wall Street analysts have given Starbucks an average rating of "Moderate Buy" with a consensus price target of $104.00, indicating potential growth prospects for the stock.

Copperwynd Financial LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 335.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,608 shares of the coffee company's stock after buying an additional 11,255 shares during the quarter. Copperwynd Financial LLC's holdings in Starbucks were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after purchasing an additional 953,361 shares in the last quarter. Wellington Management Group LLP grew its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Nuveen LLC purchased a new position in Starbucks in the first quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. grew its stake in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Starbucks in the first quarter valued at about $817,759,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. The Goldman Sachs Group reiterated a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Bank of America upped their price target on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays upped their price target on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Citigroup decreased their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.00.

Starbucks Stock Down 1.5%

Shares of NASDAQ:SBUX opened at $80.04 on Thursday. The business has a 50 day moving average price of $86.84 and a 200 day moving average price of $88.25. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market cap of $90.98 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 4.01 and a beta of 1.01.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the company earned $0.93 EPS. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced 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 represents a $2.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks's previous quarterly dividend of $0.61. Starbucks's dividend payout ratio is currently 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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