Bingham Private Wealth LLC Takes Position in Starbucks Corporation $SBUX

Bingham Private Wealth LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,272 shares of the coffee company’s stock, valued at approximately $208,000.

Several other institutional investors have also modified their holdings of the business. Seamount Financial Group Inc. bought a new position in shares of Starbucks during the 2nd quarter valued at about $235,000. Bennett Associates Wealth Management lifted its holdings in shares of Starbucks by 19.9% during the 2nd quarter. Bennett Associates Wealth Management now owns 5,290 shares of the coffee company’s stock valued at $485,000 after purchasing an additional 878 shares in the last quarter. Capital Advisors Inc. OK lifted its holdings in shares of Starbucks by 20.0% during the 2nd quarter. Capital Advisors Inc. OK now owns 3,294 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 550 shares in the last quarter. PUREfi Wealth LLC bought a new position in shares of Starbucks during the 2nd quarter valued at about $286,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Starbucks by 91.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 119,144 shares of the coffee company’s stock valued at $10,917,000 after purchasing an additional 57,019 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $82.11 on Tuesday. The firm has a market cap of $93.33 billion, a price-to-earnings ratio of 35.39, a P/E/G ratio of 4.25 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock’s fifty day moving average price is $87.33 and its two-hundred day moving average price is $88.35.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate 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 given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SBUX shares. Bank of America boosted their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price on the stock. in a research note on Thursday, July 17th. Royal Bank Of Canada boosted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.00.

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.