Cooper Financial Group Invests $209,000 in Starbucks Corporation (NASDAQ:SBUX)

Cooper Financial Group acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,126 shares of the coffee company’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the fourth quarter worth about $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. acquired a new stake in Starbucks in the 1st quarter worth approximately $29,000. Kapitalo Investimentos Ltda acquired a new stake in Starbucks in the 4th quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in Starbucks during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 0.4%

SBUX stock opened at $91.74 on Tuesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a 50-day simple moving average of $92.40 and a 200-day simple moving average of $94.32. The stock has a market capitalization of $104.28 billion, a P/E ratio of 39.54, a P/E/G ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 15th. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird lifted their price objective on shares of Starbucks from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. TD Cowen upped their target price on Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Finally, UBS Group raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.27.

About Starbucks

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.