Copperwynd Financial LLC Has $1.34 Million Stock Position in Starbucks Corporation $SBUX

Copperwynd Financial LLC raised its position in Starbucks Corporation (NASDAQ:SBUX) by 335.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,608 shares of the coffee company’s stock after acquiring an additional 11,255 shares during the period. Copperwynd Financial LLC’s holdings in Starbucks were worth $1,338,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SBUX. Alliance Wealth Advisors LLC increased its position in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after buying an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. increased its position in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after buying an additional 117 shares during the last quarter. Diligent Investors LLC increased its position in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after buying an additional 117 shares during the last quarter. Ted Buchan & Co increased its position in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after buying an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. increased its position in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SBUX shares. Guggenheim boosted their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. CICC Research initiated coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus boosted 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Starbucks Trading Down 1.5%

Shares of SBUX stock opened at $80.04 on Thursday. The stock has a market cap of $90.98 billion, a P/E ratio of 34.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.01. The stock has a 50 day simple moving average of $86.84 and a 200 day simple moving average of $88.25. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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). The company had revenue of $9.46 billion during 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.