Starbucks Corporation $SBUX Stake Lifted by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its position in Starbucks Corporation (NASDAQ:SBUX) by 18.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,401 shares of the coffee company’s stock after purchasing an additional 2,576 shares during the quarter. Venturi Wealth Management LLC’s holdings in Starbucks were worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of SBUX. Nuveen LLC purchased a new stake in Starbucks during the first quarter valued at about $1,379,619,000. Jennison Associates LLC purchased a new position in Starbucks during the 1st quarter valued at about $817,759,000. Polen Capital Management LLC acquired a new position in shares of Starbucks in the 1st quarter valued at about $503,539,000. Goldman Sachs Group Inc. lifted its position in shares of Starbucks by 59.5% in the first 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 in the last quarter. Finally, Wellington Management Group LLP boosted its holdings 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 worth $1,904,366,000 after purchasing an additional 3,545,655 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $80.04 on Thursday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a fifty day moving average price of $86.84 and a 200 day moving average price of $88.25. The stock has a market cap of $90.98 billion, a P/E ratio of 34.50, a PEG ratio of 4.01 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 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 analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SBUX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research note on Wednesday. UBS Group upped their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Bank of America increased their price objective on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, BTIG Research set a $105.00 target price on shares of Starbucks in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.00.

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.