Profund Advisors LLC Acquires 8,143 Shares of Starbucks Corporation $SBUX

Profund Advisors LLC grew its stake in Starbucks Corporation (NASDAQ:SBUX) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 102,616 shares of the coffee company’s stock after purchasing an additional 8,143 shares during the quarter. Profund Advisors LLC’s holdings in Starbucks were worth $9,403,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC increased its position in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after buying an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in 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 worth $562,000 after buying an additional 117 shares in the last quarter. Ted Buchan & Co lifted 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 worth $791,000 after acquiring an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. increased its stake in shares of Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Citigroup lowered their price objective on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Dbs Bank lowered Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average target price of $100.50.

Starbucks Trading Up 4.1%

Starbucks stock opened at $85.57 on Monday. The stock has a 50 day moving average of $83.92 and a two-hundred day moving average of $87.54. 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 $97.27 billion, a price-to-earnings ratio of 52.18, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. Equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current 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 given a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. 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.