Cwm LLC Boosts Stake in Starbucks Corporation $SBUX

Cwm LLC grew its stake in Starbucks Corporation (NASDAQ:SBUX) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,478 shares of the coffee company’s stock after buying an additional 5,064 shares during the period. Cwm LLC’s holdings in Starbucks were worth $13,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Vanguard Group Inc. increased its stake in shares of Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after acquiring an additional 953,361 shares during the period. Wellington Management Group LLP increased its stake in shares of Starbucks by 22.3% in 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 acquiring an additional 3,545,655 shares during the period. Nuveen LLC acquired a new stake in shares of Starbucks in the first quarter worth $1,379,619,000. Goldman Sachs Group Inc. increased its stake 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 acquiring an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Starbucks in the first quarter worth $817,759,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays increased 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. Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday, August 12th. TD Securities restated a “hold” rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Wells Fargo & Company raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.96.

Starbucks Stock Up 2.0%

Shares of NASDAQ SBUX opened at $80.03 on Tuesday. The company’s 50-day simple moving average is $86.29 and its 200-day simple moving average is $87.75. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $90.97 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.