Bellevue Asset Management LLC Has $3.85 Million Stock Position in Starbucks Corporation $SBUX

Bellevue Asset Management LLC decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.5% in the second quarter, HoldingsChannel reports. The firm owned 41,979 shares of the coffee company’s stock after selling 210 shares during the period. Starbucks accounts for 1.9% of Bellevue Asset Management LLC’s holdings, making the stock its 13th biggest position. Bellevue Asset Management LLC’s holdings in Starbucks were worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Chelsea Counsel Co. acquired a new position in shares of Starbucks in the 2nd quarter valued at $26,000. Hughes Financial Services LLC purchased a new stake in Starbucks in the 1st quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the 1st quarter worth about $29,000. Finally, Nova Wealth Management Inc. boosted its position in Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $81.29 on Wednesday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The business has a 50-day moving average of $87.09 and a 200-day moving average of $88.30. The company has a market capitalization of $92.40 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 4.05 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $0.93 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SBUX shares. Evercore ISI restated an “outperform” rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. UBS Group raised their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Barclays raised their price objective on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.00.

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.