Sequoia Financial Advisors LLC Has $4.07 Million Holdings in Starbucks Corporation $SBUX

Sequoia Financial Advisors LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,413 shares of the coffee company’s stock after buying an additional 4,340 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Starbucks were worth $4,070,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SBUX. Total Clarity Wealth Management Inc. acquired a new position in shares of Starbucks in the 2nd quarter valued at approximately $556,000. Vest Financial LLC increased its holdings in Starbucks by 39.2% during the 2nd quarter. Vest Financial LLC now owns 21,985 shares of the coffee company’s stock worth $2,014,000 after purchasing an additional 6,196 shares in the last quarter. Pegasus Asset Management Inc. bought a new position in Starbucks during the 2nd quarter worth about $1,289,000. MGO One Seven LLC increased its holdings in Starbucks by 5.1% during the 2nd quarter. MGO One Seven LLC now owns 30,613 shares of the coffee company’s stock worth $2,805,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Bill Few Associates Inc. boosted its position in shares of Starbucks by 0.8% during the second quarter. Bill Few Associates Inc. now owns 21,610 shares of the coffee company’s stock worth $1,980,000 after buying an additional 165 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 1.4%

Shares of NASDAQ SBUX opened at $81.15 on Wednesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a 50 day moving average of $86.11 and a 200-day moving average of $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 issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. CICC Research assumed coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Stifel Nicolaus increased 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, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $102.96.

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.