Cornerstone Wealth Group LLC Acquires 328 Shares of Starbucks Corporation $SBUX

Cornerstone Wealth Group LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,665 shares of the coffee company’s stock after acquiring an additional 328 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Starbucks were worth $519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC grew its holdings in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after purchasing an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC grew its holdings in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the last quarter. Ted Buchan & Co grew its holdings in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. grew its holdings in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $81.15 on Wednesday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm’s fifty day moving average price is $86.11 and its two-hundred day moving average price is $87.70. The company has a market capitalization of $92.24 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.97 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Loop Capital set a $165.00 price target on Starbucks in a report on Tuesday, August 12th. Guggenheim increased their price target on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Stifel Nicolaus raised their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.96.

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.