Total Clarity Wealth Management Inc. Purchases New Position in Starbucks Corporation $SBUX

Key Points

• Total Clarity Wealth Management Inc. has purchased a new position in Starbucks Corporation, acquiring 6,071 shares valued at approximately $556,000 in the second quarter.
• Starbucks recently declared a quarterly dividend increase to $0.62 per share, which will be paid on November 28th, with an annualized yield of 3.1% despite a dividend payout ratio of 105.17%.
• Starbucks reported a quarterly EPS of $0.50, missing analysts' expectations while achieving revenue of $9.46 billion, surpassing the forecast of $9.29 billion.

Total Clarity Wealth Management Inc. bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,071 shares of the coffee company's stock, valued at approximately $556,000.

Several other hedge funds have also recently modified their holdings of SBUX. Brighton Jones LLC lifted its position in shares of 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 buying an additional 81,952 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Starbucks by 21.9% during the 1st quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company's stock worth $2,020,000 after buying an additional 3,703 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Starbucks by 5.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company's stock worth $46,375,000 after buying an additional 25,809 shares in the last quarter. Missouri Trust & Investment Co lifted its position in shares of Starbucks by 49.7% during the 1st quarter. Missouri Trust & Investment Co now owns 524 shares of the coffee company's stock worth $51,000 after buying an additional 174 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Starbucks during the 1st quarter worth approximately $819,000. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. TD Cowen lowered their price target on shares of Starbucks from $88.00 to $84.00 and set a "hold" rating on the stock in a report on Friday. Finally, Loop Capital set a $165.00 price target on shares of Starbucks in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $102.96.

Starbucks Price Performance

Shares of SBUX stock opened at $80.03 on Tuesday. The company's fifty day simple moving average is $86.29 and its two-hundred day simple moving average is $87.75. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market capitalization of $90.97 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company 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 dividend of $0.62 per share. This is an increase from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. Starbucks's dividend payout ratio (DPR) is presently 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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