Lafayette Investments Inc. Has $5.94 Million Position in Starbucks Corporation $SBUX

Lafayette Investments Inc. trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,822 shares of the coffee company’s stock after selling 1,254 shares during the quarter. Starbucks makes up 1.2% of Lafayette Investments Inc.’s holdings, making the stock its 22nd biggest holding. Lafayette Investments Inc.’s holdings in Starbucks were worth $5,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in SBUX. Brighton Jones LLC increased its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. GAMMA Investing LLC boosted its stake in Starbucks by 21.9% during the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock worth $2,020,000 after acquiring an additional 3,703 shares in the last quarter. Advisor Resource Council bought a new position in shares of Starbucks during the 1st quarter worth about $505,000. Childress Capital Advisors LLC raised its stake in Starbucks by 10.1% during the 1st quarter. Childress Capital Advisors LLC now owns 2,705 shares of the coffee company’s stock worth $265,000 after buying an additional 249 shares during the period. Finally, Ellis Investment Partners LLC acquired a new stake in Starbucks in the first quarter valued at approximately $202,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SBUX shares. BMO Capital Markets restated an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup dropped their price target on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Guggenheim upped their price objective on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.60.

Starbucks Price Performance

NASDAQ:SBUX opened at $84.53 on Tuesday. The firm’s 50-day moving average price is $85.57 and its 200-day moving average price is $87.41. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market capitalization of $96.09 billion, a PE ratio of 36.44, a P/E/G ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the prior year, the firm earned $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders 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 dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is currently 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.