IFG Advisors LLC Raises Stock Holdings in Starbucks Corporation $SBUX

IFG Advisors LLC grew its position in Starbucks Corporation (NASDAQ:SBUX) by 13.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,325 shares of the coffee company’s stock after acquiring an additional 505 shares during the quarter. IFG Advisors LLC’s holdings in Starbucks were worth $396,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SBUX. Mutual Advisors LLC raised its position in Starbucks by 2.8% in the 2nd quarter. Mutual Advisors LLC now owns 45,840 shares of the coffee company’s stock valued at $4,328,000 after purchasing an additional 1,243 shares during the last quarter. Granite Group Advisors LLC increased its stake in Starbucks by 26.8% in the second quarter. Granite Group Advisors LLC now owns 29,127 shares of the coffee company’s stock valued at $2,669,000 after purchasing an additional 6,157 shares during the period. Ritholtz Wealth Management increased its stake in Starbucks by 2.3% in the second quarter. Ritholtz Wealth Management now owns 17,856 shares of the coffee company’s stock valued at $1,636,000 after purchasing an additional 404 shares during the period. Arlington Financial Advisors LLC raised its holdings in shares of Starbucks by 9.7% in the second quarter. Arlington Financial Advisors LLC now owns 36,664 shares of the coffee company’s stock valued at $3,360,000 after buying an additional 3,254 shares during the last quarter. Finally, JGP Wealth Management LLC grew its holdings in shares of Starbucks by 1.9% during the second quarter. JGP Wealth Management LLC now owns 11,039 shares of the coffee company’s stock worth $1,012,000 after buying an additional 208 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Starbucks stock opened at $81.15 on Wednesday. The stock’s 50 day moving average price is $86.11 and its 200 day moving average price is $87.70. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $92.24 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.93 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS 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 issued 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SBUX shares. Citigroup reduced their price objective on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. CICC Research started coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target for the company. Wells Fargo & Company boosted their price objective 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. Finally, BTIG Research set a $105.00 price objective on shares of Starbucks in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.96.

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.