McGinn Penninger Investment Management Inc. Purchases 26,760 Shares of Starbucks Corporation $SBUX

by · The Markets Daily

McGinn Penninger Investment Management Inc. grew its stake in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 76.7% in the second quarter, HoldingsChannel reports. The fund owned 61,640 shares of the coffee company’s stock after acquiring an additional 26,760 shares during the period. Starbucks accounts for 3.6% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 11th largest position. McGinn Penninger Investment Management Inc.’s holdings in Starbucks were worth $5,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks during the second quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks in the first quarter valued at approximately $27,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in Starbucks during the first quarter worth $29,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SBUX. Stifel Nicolaus upped their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group set a $94.00 price target on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.50.

Get Our Latest Stock Report on Starbucks

Starbucks Trading Up 0.1%

SBUX opened at $80.96 on Tuesday. 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 $92.03 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 4.28 and a beta of 1.01. The company’s fifty day moving average price is $84.33 and its two-hundred day moving average price is $87.51.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced 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. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is 151.22%.

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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