Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,058 shares of the coffee company’s stock after acquiring an additional 3,184 shares during the period. Cetera Investment Advisers’ holdings in Starbucks were worth $17,044,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its stake in shares of Starbucks by 124.7% in the 2nd quarter. Sound Income Strategies LLC now owns 1,618 shares of the coffee company’s stock worth $160,000 after buying an additional 898 shares in the last quarter. Resources Investment Advisors LLC. raised its position in shares of Starbucks by 18.8% during the first quarter. Resources Investment Advisors LLC. now owns 16,102 shares of the coffee company’s stock worth $1,677,000 after purchasing an additional 2,548 shares during the period. Avestar Capital LLC raised its position in shares of Starbucks by 4.8% during the second quarter. Avestar Capital LLC now owns 4,061 shares of the coffee company’s stock worth $402,000 after purchasing an additional 187 shares during the period. Rothschild Investment Corp IL raised its position in shares of Starbucks by 10.0% during the second quarter. Rothschild Investment Corp IL now owns 24,319 shares of the coffee company’s stock worth $2,409,000 after purchasing an additional 2,201 shares during the period. Finally, Aveo Capital Partners LLC raised its position in shares of Starbucks by 23.6% during the first quarter. Aveo Capital Partners LLC now owns 3,618 shares of the coffee company’s stock worth $377,000 after purchasing an additional 691 shares during the period. Institutional investors own 70.13% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $105.60 on Wednesday. Starbucks Co. has a fifty-two week low of $89.21 and a fifty-two week high of $115.48. The stock’s 50-day moving average is $95.27 and its two-hundred day moving average is $98.83. The firm has a market cap of $120.95 billion, a P/E ratio of 29.50, a PEG ratio of 1.51 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.09. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 48.79% and a net margin of 11.47%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. As a group, research analysts expect that Starbucks Co. will post 4.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.57 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, November 9th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is currently 63.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company cut their target price on Starbucks from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 19th. Stifel Nicolaus cut their target price on Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a research report on Wednesday, August 2nd. Jefferies Financial Group cut their target price on Starbucks from $107.00 to $100.00 in a research report on Tuesday, October 3rd. Bank of America lifted their price target on Starbucks from $131.00 to $150.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, TD Cowen lowered Starbucks from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $117.00 to $107.00 in a research report on Tuesday, September 19th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.52.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.