Souders Financial Advisors Raises Holdings in Starbucks Corporation $SBUX

Souders Financial Advisors grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 66.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,700 shares of the coffee company’s stock after buying an additional 2,272 shares during the period. Souders Financial Advisors’ holdings in Starbucks were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Washington Trust Bank raised its position in Starbucks by 9.1% in the second quarter. Washington Trust Bank now owns 195,655 shares of the coffee company’s stock valued at $17,928,000 after purchasing an additional 16,394 shares during the period. HORAN Wealth LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $210,000. Resona Asset Management Co. Ltd. raised its stake in Starbucks by 5.5% in the second quarter. Resona Asset Management Co. Ltd. now owns 370,272 shares of the coffee company’s stock valued at $33,955,000 after buying an additional 19,288 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Starbucks by 58.9% during the second quarter. Atlantic Union Bankshares Corp now owns 62,544 shares of the coffee company’s stock worth $5,731,000 after purchasing an additional 23,173 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Starbucks by 7.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 259,273 shares of the coffee company’s stock valued at $23,757,000 after buying an additional 19,007 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SBUX shares. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. UBS Group set a $94.00 price target on Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Piper Sandler cut their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

Starbucks Trading Down 0.8%

Shares of Starbucks stock opened at $82.22 on Friday. The business’s fifty day moving average price is $83.98 and its 200 day moving average price is $87.43. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market capitalization of $93.46 billion, a P/E ratio of 50.13, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed 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 a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

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.