Agate Pass Investment Management LLC Acquires 150 Shares of Starbucks Corporation $SBUX

Agate Pass Investment Management LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,473 shares of the coffee company’s stock after acquiring an additional 150 shares during the period. Agate Pass Investment Management LLC’s holdings in Starbucks were worth $318,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $27,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. CBIZ Investment Advisory Services LLC raised its position in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the 1st quarter valued at $29,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup upgraded shares of Starbucks from a “neutral” rating to a “mixed” rating in a research report on Thursday. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.56.

Starbucks Stock Down 1.7%

Shares of NASDAQ:SBUX opened at $78.46 on Friday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market capitalization of $89.19 billion, a P/E ratio of 33.82, a PEG ratio of 3.93 and a beta of 1.01. The firm has a fifty day simple moving average of $86.48 and a two-hundred day simple moving average of $88.02.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders 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 3.2%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is 105.17%.

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.