First National Bank Sioux Falls Raises Holdings in Starbucks Corporation $SBUX

First National Bank Sioux Falls grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.5% in the second quarter, HoldingsChannel reports. The firm owned 6,641 shares of the coffee company’s stock after buying an additional 633 shares during the quarter. First National Bank Sioux Falls’ holdings in Starbucks were worth $609,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SBUX. Nuveen LLC purchased a new position in shares of Starbucks during the first quarter valued at about $1,379,619,000. Jennison Associates LLC purchased a new position in shares of Starbucks during the first quarter valued at about $817,759,000. Polen Capital Management LLC purchased a new position in shares of Starbucks during the first quarter valued at about $503,539,000. Goldman Sachs Group Inc. grew its position in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $81.90 on Friday. The company has a market cap of $93.10 billion, a P/E ratio of 35.30, a PEG ratio of 4.92 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a 50-day simple moving average of $90.45 and a two-hundred day simple moving average of $90.79.

Starbucks (NASDAQ:SBUX) last announced 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). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’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 earned $0.93 EPS. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 3.0%. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Citigroup dropped their price target on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, July 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

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.