7,124 Shares in Starbucks Corporation $SBUX Purchased by Morningstar Investment Management LLC

by · The Markets Daily

Morningstar Investment Management LLC purchased a new position in Starbucks Corporation (NASDAQ:SBUX – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 7,124 shares of the coffee company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Brighton Jones LLC boosted its holdings in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after buying an additional 81,952 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Starbucks by 21.9% during the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after purchasing an additional 3,703 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Starbucks by 5.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company’s stock valued at $46,375,000 after purchasing an additional 25,809 shares during the last quarter. Missouri Trust & Investment Co lifted its holdings in Starbucks by 49.7% during the first quarter. Missouri Trust & Investment Co now owns 524 shares of the coffee company’s stock valued at $51,000 after purchasing an additional 174 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new stake in Starbucks during the first quarter valued at about $819,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. TD Securities reaffirmed a “hold” rating and set a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Loop Capital set a $165.00 price objective on shares of Starbucks in a report on Tuesday, August 12th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $102.96.

View Our Latest Report on SBUX

Starbucks Trading Up 2.0%

Shares of Starbucks stock opened at $80.03 on Tuesday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market cap of $90.97 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.89 and a beta of 1.01. The company’s 50-day moving average price is $86.29 and its 200-day moving average price is $87.75.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (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 firm 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 company posted $0.93 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current 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 given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

About Starbucks

(Free Report)

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.

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