Verdence Capital Advisors LLC Buys 4,481 Shares of Starbucks Corporation $SBUX

Key Points

• Verdence Capital Advisors LLC raised its stake in Starbucks Corporation by 40.2%, acquiring an additional 4,481 shares in the second quarter.
• Starbucks has announced a quarterly dividend of $0.62 per share, reflecting a small increase from the previous $0.61 dividend, with a yield of 3.1%.
• The company reported earnings per share of $0.50 for the last quarter, which missed expectations, while revenue was up 3.8% year-over-year at $9.46 billion.

Verdence Capital Advisors LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 40.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,628 shares of the coffee company's stock after purchasing an additional 4,481 shares during the quarter. Verdence Capital Advisors LLC's holdings in Starbucks were worth $1,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Game Plan Financial Advisors LLC bought a new position in Starbucks in the second quarter worth $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks in the first quarter worth $27,000. Chelsea Counsel Co. purchased a new stake in shares of Starbucks in the second quarter worth $26,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after acquiring an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the first quarter worth $29,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $80.03 on Tuesday. 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. The stock's 50-day simple moving average is $86.29 and its two-hundred day simple moving average is $87.75. Starbucks Corporation has a 52-week low of $75.50 and a 52-week 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.1%. Starbucks's payout ratio is 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SBUX shares. BTIG Research set a $105.00 target price on Starbucks in a research note on Thursday, September 25th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 17th. CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. 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, Evercore ISI reissued an "outperform" rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.96.

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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