Sage Capital Advisors llc Has $301,000 Position in Starbucks Corporation $SBUX

Sage Capital Advisors llc raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 16.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,282 shares of the coffee company’s stock after buying an additional 457 shares during the period. Sage Capital Advisors llc’s holdings in Starbucks were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Brighton Jones LLC increased its stake 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 purchasing an additional 81,952 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Starbucks in the 4th quarter valued at about $710,000. Rafferty Asset Management LLC raised its holdings in Starbucks by 16.7% in the 4th quarter. Rafferty Asset Management LLC now owns 251,470 shares of the coffee company’s stock valued at $22,947,000 after acquiring an additional 35,983 shares during the period. Shellback Capital LP bought a new position in Starbucks in the 4th quarter valued at about $7,300,000. Finally, Steadfast Capital Management LP bought a new position in Starbucks in the 4th quarter valued at about $211,970,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $81.90 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm has a 50 day simple moving average of $90.45 and a 200 day simple moving average of $90.79. The company has a market cap of $93.10 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 4.92 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on SBUX. Guggenheim lifted their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Bank of America lifted their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. CICC Research initiated coverage on shares of Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

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.