Vest Financial LLC Has $2.01 Million Position in Starbucks Corporation $SBUX

Vest Financial LLC grew its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 39.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,985 shares of the coffee company's stock after purchasing an additional 6,196 shares during the period. Vest Financial LLC's holdings in Starbucks were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC bought a new position in Starbucks during the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC bought a new stake in shares of Starbucks in the 1st quarter valued at $503,539,000. Goldman Sachs Group Inc. increased its stake in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the subject of several recent research reports. Bank of America boosted their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Starbucks in a report on Wednesday, October 8th. UBS Group upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, TD Securities reiterated a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and a consensus price target of $102.96.

Starbucks Stock Performance

NASDAQ:SBUX opened at $81.15 on Wednesday. The firm has a market cap of $92.24 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The business has a 50 day moving average price of $86.11 and a 200-day moving average price of $87.70.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. 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 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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