One Wealth Capital Management LLC Acquires 2,790 Shares of Starbucks Corporation $SBUX

One Wealth Capital Management LLC grew its stake in Starbucks Corporation (NASDAQ:SBUX) by 52.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,071 shares of the coffee company’s stock after acquiring an additional 2,790 shares during the period. One Wealth Capital Management LLC’s holdings in Starbucks were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. AE Wealth Management LLC boosted its stake in Starbucks by 13.7% in the 2nd quarter. AE Wealth Management LLC now owns 42,372 shares of the coffee company’s stock valued at $3,883,000 after purchasing an additional 5,098 shares during the period. Paradigm Asset Management Co. LLC acquired a new position in shares of Starbucks in the second quarter valued at about $302,000. Quadrant Private Wealth Management LLC increased its position in Starbucks by 1.6% during the second quarter. Quadrant Private Wealth Management LLC now owns 25,165 shares of the coffee company’s stock worth $2,306,000 after acquiring an additional 401 shares during the period. Wedbush Securities Inc. raised its stake in Starbucks by 8.1% in the 2nd quarter. Wedbush Securities Inc. now owns 54,226 shares of the coffee company’s stock worth $4,969,000 after purchasing an additional 4,049 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC raised its stake in Starbucks by 32.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 21,387 shares of the coffee company’s stock worth $1,960,000 after purchasing an additional 5,186 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on SBUX shares. Citigroup decreased their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Barclays dropped their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Royal Bank Of Canada set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Guggenheim increased their price objective on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $100.50.

Starbucks Trading Up 4.1%

Shares of NASDAQ SBUX opened at $85.57 on Friday. The company has a market cap of $97.27 billion, a price-to-earnings ratio of 52.18, a PEG ratio of 4.28 and a beta of 1.02. 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 price of $83.92 and a two-hundred day moving average price of $87.46.

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

Starbucks Increases Dividend

The business also recently declared 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 a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

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.