Starbucks Corporation $SBUX Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,052 shares of the coffee company’s stock after purchasing an additional 6,226 shares during the period. Empowered Funds LLC’s holdings in Starbucks were worth $5,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Game Plan Financial Advisors LLC acquired a new position in Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the 2nd quarter valued at about $26,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Starbucks in the second quarter valued at about $28,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the first quarter worth about $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $85.35 on Friday. The company’s 50-day simple moving average is $83.83 and its 200-day simple moving average is $87.59. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market capitalization of $97.05 billion, a PE ratio of 52.04, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 business had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $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 announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a 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 151.22%.

Analyst Ratings Changes

Several equities analysts have weighed in on SBUX shares. Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Guggenheim increased their price objective on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Citigroup reduced their target price on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.44.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

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.