3,126 Shares in Starbucks Corporation $SBUX Acquired by PUREfi Wealth LLC

PUREfi Wealth LLC bought a new position in Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,126 shares of the coffee company’s stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Nuveen LLC bought a new position in Starbucks in the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC bought a new position in Starbucks in the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC bought a new position in Starbucks in the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. boosted its stake in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SBUX. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. TD Cowen restated a “hold” rating and set a $95.00 price target on shares of Starbucks in a report on Thursday, September 25th. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Citigroup reduced their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Finally, Bank of America raised 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. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Stock Down 0.3%

Shares of NASDAQ:SBUX opened at $86.42 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01. The business has a 50-day moving average price of $87.56 and a 200-day moving average price of $88.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.