Tevis Investment Management Has $1.19 Million Holdings in Starbucks Corporation $SBUX

Tevis Investment Management raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 56.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,018 shares of the coffee company’s stock after buying an additional 4,681 shares during the quarter. Tevis Investment Management’s holdings in Starbucks were worth $1,193,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SBUX. Narwhal Capital Management grew its holdings in Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after acquiring an additional 9,282 shares during the last quarter. PUREfi Wealth LLC bought a new position in Starbucks in the second quarter valued at approximately $286,000. Napa Wealth Management bought a new position in Starbucks in the first quarter valued at approximately $1,435,000. Morningstar Investment Management LLC acquired a new stake in shares of Starbucks in the second quarter valued at approximately $653,000. Finally, Pegasus Asset Management Inc. acquired a new stake in shares of Starbucks in the second quarter valued at approximately $1,289,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $87.22 on Tuesday. The business has a 50 day moving average of $84.90 and a 200 day moving average of $87.51. The company has a market capitalization of $99.14 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 4.32 and a beta of 1.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 EPS. Starbucks’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company 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 a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SBUX shares. BTIG Research set a $105.00 price objective on shares of Starbucks in a research report on Thursday, September 25th. Royal Bank Of Canada upped their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Barclays decreased their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, UBS Group set a $94.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.12.

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.