St. Johns Investment Management Company LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX – Free Report) by 20.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,202 shares of the coffee company’s stock after purchasing an additional 1,060 shares during the period. St. Johns Investment Management Company LLC’s holdings in Starbucks were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new position in Starbucks during the first quarter valued at $1,379,619,000. Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter worth $817,759,000. Polen Capital Management LLC purchased a new position in Starbucks in the 1st quarter worth $503,539,000. Goldman Sachs Group Inc. raised its position in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Starbucks by 22.3% in 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 acquiring an additional 3,545,655 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.
Starbucks Stock Up 1.6%
Starbucks stock opened at $85.90 on Wednesday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market capitalization of $97.64 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 4.24 and a beta of 1.01. The company has a fifty day simple moving average of $85.42 and a 200-day simple moving average of $87.40.
Starbucks Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s payout ratio is 105.17%.
Analysts Set New Price Targets
Several equities research analysts recently commented on SBUX shares. Barclays boosted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Royal Bank Of Canada upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.60.
View Our Latest Analysis on SBUX
About Starbucks
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.
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