waypoint wealth counsel Acquires Shares of 2,218 Starbucks Corporation $SBUX

waypoint wealth counsel purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,218 shares of the coffee company’s stock, valued at approximately $203,000.

A number of other institutional investors also recently modified their holdings of SBUX. Nuveen LLC acquired a new position in shares of Starbucks during the 1st quarter worth $1,379,619,000. Jennison Associates LLC acquired a new position in shares of Starbucks during the 1st quarter worth $817,759,000. Polen Capital Management LLC acquired a new position in shares of Starbucks during the 1st quarter worth $503,539,000. Goldman Sachs Group Inc. raised its holdings in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Starbucks by 22.3% during 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 buying an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Royal Bank Of Canada boosted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. Stifel Nicolaus boosted their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, Cowen restated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $103.56.

Starbucks Trading Down 1.7%

NASDAQ SBUX opened at $78.46 on Monday. The business’s 50-day moving average price is $86.48 and its two-hundred day moving average price is $87.87. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a market capitalization of $89.19 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.89 and a beta of 1.01.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.2%. Starbucks’s dividend payout ratio is presently 105.17%.

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.