Sowell Financial Services LLC Purchases 1,640 Shares of Starbucks Corporation $SBUX

Sowell Financial Services LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.8% during the second quarter, HoldingsChannel.com reports. The fund owned 90,736 shares of the coffee company’s stock after purchasing an additional 1,640 shares during the quarter. Sowell Financial Services LLC’s holdings in Starbucks were worth $8,314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Benin Management CORP increased its holdings in Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after acquiring an additional 120 shares during the last quarter. Ted Buchan & Co increased its holdings in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its holdings in Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after acquiring an additional 122 shares during the last quarter. Private Wealth Management Group LLC increased its holdings in Starbucks by 13.3% in the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock valued at $104,000 after acquiring an additional 124 shares during the last quarter. Finally, Avalon Trust Co increased its holdings in Starbucks by 5.5% in the 1st quarter. Avalon Trust Co now owns 2,384 shares of the coffee company’s stock valued at $234,000 after acquiring an additional 124 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $84.56 on Friday. The firm has a market capitalization of $96.12 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 5.05 and a beta of 1.00. The stock has a 50 day moving average price of $89.34 and a 200 day moving average price of $89.59. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. Analysts forecast 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 was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SBUX shares. Wells Fargo & Company lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Barclays lifted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently 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.