Advyzon Investment Management LLC Has $552,000 Stock Position in Starbucks Corporation $SBUX

Advyzon Investment Management LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,023 shares of the coffee company’s stock after acquiring an additional 831 shares during the quarter. Advyzon Investment Management LLC’s holdings in Starbucks were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Nuveen LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $1,379,619,000. Jennison Associates LLC acquired a new stake in shares of Starbucks during the first quarter worth $817,759,000. Polen Capital Management LLC bought a new stake in Starbucks in the first quarter valued at about $503,539,000. Goldman Sachs Group Inc. increased its holdings in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research report on Thursday, July 17th. Guggenheim boosted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Citigroup dropped their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Piper Sandler dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Starbucks has an average rating of “Hold” and a consensus price target of $100.50.

Starbucks Trading Up 2.2%

NASDAQ SBUX opened at $86.42 on Wednesday. The firm has a market capitalization of $98.23 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The firm’s fifty day moving average price is $83.79 and its two-hundred day moving average price is $87.56. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio is presently 151.22%.

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.