Crux Wealth Advisors Grows Stock Holdings in Starbucks Corporation $SBUX

Crux Wealth Advisors lifted its position in Starbucks Corporation (NASDAQ:SBUX) by 31.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,954 shares of the coffee company’s stock after purchasing an additional 2,628 shares during the quarter. Crux Wealth Advisors’ holdings in Starbucks were worth $1,004,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after acquiring an additional 953,361 shares during the last quarter. Wellington Management Group LLP boosted its position in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the period. Nuveen LLC bought a new position in shares of Starbucks during the first quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Starbucks in the first quarter worth about $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.2%

Shares of Starbucks stock opened at $85.36 on Friday. The business has a 50 day moving average of $85.72 and a 200 day moving average of $87.40. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a market cap of $97.03 billion, a PE ratio of 36.79, a P/E/G ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate 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. Investors of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Sanford C. Bernstein lifted their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus upped their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, BTIG Research set a $105.00 price target on shares of Starbucks in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.76.

Starbucks 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.