GFS Advisors LLC Takes Position in Starbucks Corporation $SBUX

GFS Advisors LLC bought a new stake in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,255 shares of the coffee company’s stock, valued at approximately $1,123,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Game Plan Financial Advisors LLC acquired a new stake in Starbucks in the second quarter worth about $25,000. Chelsea Counsel Co. acquired a new stake in Starbucks in the second quarter worth about $26,000. Hughes Financial Services LLC acquired a new stake in Starbucks in the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC increased its position in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks in the first quarter worth about $29,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ:SBUX opened at $78.46 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $89.19 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.87 and a beta of 1.01. The business’s 50-day simple moving average is $86.48 and its 200-day simple moving average is $87.95.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.2%. Starbucks’s payout ratio is currently 105.17%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Citigroup upgraded Starbucks from a “neutral” rating to a “mixed” rating in a research report on Thursday. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.56.

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.