Brookwood Investment Group LLC Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Brookwood Investment Group LLC acquired a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,164 shares of the coffee company's stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Brighton Jones LLC grew its stake in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in Starbucks by 16.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 17,230 shares of the coffee company's stock worth $1,572,000 after buying an additional 2,406 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Starbucks by 15.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 104,272 shares of the coffee company's stock worth $9,515,000 after buying an additional 13,683 shares in the last quarter. Modern Wealth Management LLC boosted its stake in Starbucks by 39.8% during the fourth quarter. Modern Wealth Management LLC now owns 8,209 shares of the coffee company's stock worth $749,000 after buying an additional 2,335 shares in the last quarter. Finally, TIAA Trust National Association boosted its stake in Starbucks by 0.4% during the fourth quarter. TIAA Trust National Association now owns 54,977 shares of the coffee company's stock worth $5,017,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Sanford C. Bernstein lifted their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Barclays cut their price target on Starbucks from $108.00 to $106.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $98.58.

Starbucks Price Performance

NASDAQ:SBUX traded up $0.72 during trading hours on Friday, hitting $94.42. The company's stock had a trading volume of 7,219,553 shares, compared to its average volume of 7,933,794. The stock has a fifty day simple moving average of $91.05 and a 200-day simple moving average of $94.64. The company has a market capitalization of $107.30 billion, a P/E ratio of 34.21, a PEG ratio of 6.50 and a beta of 1.02. Starbucks Corporation has a twelve month low of $72.72 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $0.68 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks's dividend payout ratio (DPR) is 88.41%.

Starbucks 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.