Three Bridge Wealth Advisors LLC Acquires 984 Shares of Starbucks Corporation $SBUX

Three Bridge Wealth Advisors LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,612 shares of the coffee company’s stock after acquiring an additional 984 shares during the period. Three Bridge Wealth Advisors LLC’s holdings in Starbucks were worth $881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Starbucks in the first quarter valued at about $1,379,619,000. Jennison Associates LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% during 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 grew its stake in shares of Starbucks by 22.3% during 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 purchasing an additional 3,545,655 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $86.42 on Friday. The business’s 50-day moving average price is $87.56 and its two-hundred day moving average price is $88.53. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market capitalization of $98.23 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 earnings per share. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 105.17%.

Analysts Set New Price Targets

SBUX has been the topic of several research reports. Wells Fargo & Company upped their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. UBS Group lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Finally, Citigroup reduced their target price on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.00.

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.