Rosenberg Matthew Hamilton Boosts Stock Position in Starbucks Corporation $SBUX

Rosenberg Matthew Hamilton boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 18.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,957 shares of the coffee company’s stock after purchasing an additional 610 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Starbucks were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBUX. Brighton Jones LLC increased its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Starbucks by 21.9% in the 1st quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock worth $2,020,000 after acquiring an additional 3,703 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Starbucks by 5.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company’s stock worth $46,375,000 after acquiring an additional 25,809 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Starbucks in the 1st quarter worth approximately $819,000. Finally, Ritholtz Wealth Management grew its position in shares of Starbucks by 39.0% in the 1st quarter. Ritholtz Wealth Management now owns 17,452 shares of the coffee company’s stock worth $1,712,000 after acquiring an additional 4,898 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of SBUX opened at $81.15 on Wednesday. The company has a market cap of $92.24 billion, a P/E ratio of 34.98, a PEG ratio of 3.97 and a beta of 1.01. The stock has a fifty day moving average price of $86.11 and a 200 day moving average price of $87.70. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

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). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Barclays lifted their target price on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Sanford C. Bernstein lifted their target price on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, TD Cowen decreased their target price on Starbucks from $88.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.96.

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.