Starbucks Corporation $SBUX Shares Acquired by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors LLC increased its stake in Starbucks Corporation by 91.8% during the 2nd quarter, owning a total of 119,144 shares valued at approximately $10.9 million.
• Starbucks reported earnings of $0.50 EPS for the last quarter, missing the consensus estimate of $0.64, while revenue was $9.46 billion, exceeding expectations.
• The company announced a quarterly dividend increase to $0.62 per share, representing a 2.9% yield and a payout ratio of 105.17%.

Valeo Financial Advisors LLC boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 91.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,144 shares of the coffee company's stock after buying an additional 57,019 shares during the period. Valeo Financial Advisors LLC's holdings in Starbucks were worth $10,917,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Napa Wealth Management acquired a new stake in Starbucks during the first quarter valued at $1,435,000. Personal CFO Solutions LLC increased its position in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the period. First Manhattan CO. LLC. raised its stake in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after purchasing an additional 111,015 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Starbucks in the first quarter valued at about $998,000. Finally, Norden Group LLC grew its holdings in shares of Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after purchasing an additional 12,027 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. Loop Capital set a $165.00 price target on Starbucks in a report on Tuesday, August 12th. Guggenheim increased their target price on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. TD Securities reissued a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Finally, Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a report on Friday, July 18th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.00.

Starbucks Trading Down 0.3%

NASDAQ SBUX opened at $86.42 on Monday. The firm has a market capitalization of $98.23 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. The business's 50-day moving average price is $87.56 and its two-hundred day moving average price is $88.46. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

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

Starbucks Increases Dividend

The firm 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks's previous quarterly dividend of $0.61. Starbucks's dividend payout ratio (DPR) 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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