Trifecta Capital Advisors LLC Raises Holdings in Starbucks Corporation $SBUX

Trifecta Capital Advisors LLC increased its position in Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,981 shares of the coffee company’s stock after buying an additional 396 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Starbucks were worth $2,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP raised its position in 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 purchasing an additional 3,545,655 shares during the period. Nuveen LLC purchased a new position in Starbucks in the first quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. raised its position in 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 purchasing an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC purchased a new position in Starbucks in the first quarter valued at about $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $80.04 on Thursday. The company has a market capitalization of $90.98 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 4.01 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 has a 50-day simple moving average of $86.84 and a 200 day simple moving average of $88.25.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. On average, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm 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 an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SBUX shares. Cowen restated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Royal Bank Of Canada raised 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. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday. Finally, Barclays raised their target price on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.