Oak Hill Wealth Advisors LLC Has $1.35 Million Position in Starbucks Corporation $SBUX

Oak Hill Wealth Advisors LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 15.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,193 shares of the coffee company’s stock after purchasing an additional 1,934 shares during the period. Oak Hill Wealth Advisors LLC’s holdings in Starbucks were worth $1,347,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in Starbucks during the first quarter worth about $1,379,619,000. Jennison Associates LLC acquired a new position in shares of Starbucks in the first quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new position in shares of Starbucks in the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. increased its stake in shares of Starbucks by 59.5% in 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 period. Finally, Wellington Management Group LLP increased its position in Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3%

Shares of SBUX stock opened at $86.42 on Friday. The business’s fifty day moving average is $87.56 and its 200 day moving average is $88.61. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.26 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. Equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This is a positive change 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%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. BTIG Research set a $105.00 target price on Starbucks in a report on Thursday, September 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 target price (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Stifel Nicolaus lifted their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. 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 report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

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.