9,535 Shares in Starbucks Corporation $SBUX Bought by Integrity Alliance LLC.

Key Points

• Integrity Alliance LLC has acquired 9,535 shares of Starbucks, valued at approximately $935,000, during the first quarter of this year.
• Starbucks reported quarterly earnings of $0.50 per share, missing the consensus estimate of $0.64, although its revenue of $9.46 billion exceeded expectations.
• The company has declared a quarterly dividend of $0.61, resulting in a dividend yield of 3.0%, with a current payout ratio of 105.17%.

Integrity Alliance LLC. purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,535 shares of the coffee company's stock, valued at approximately $935,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ransom Advisory Ltd purchased a new stake in Starbucks during the first quarter worth $343,000. Ilmarinen Mutual Pension Insurance Co boosted its holdings in Starbucks by 4.7% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 221,533 shares of the coffee company's stock worth $21,730,000 after buying an additional 10,000 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in Starbucks by 11.7% during the first quarter. SageView Advisory Group LLC now owns 13,201 shares of the coffee company's stock worth $1,295,000 after buying an additional 1,387 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Starbucks during the first quarter worth $170,000. Finally, Alaethes Wealth LLC boosted its holdings in Starbucks by 4.1% during the first quarter. Alaethes Wealth LLC now owns 4,878 shares of the coffee company's stock worth $478,000 after buying an additional 194 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.6%

Shares of NASDAQ SBUX opened at $82.36 on Friday. The firm has a 50-day simple moving average of $90.70 and a 200-day simple moving average of $91.02. The stock has a market capitalization of $93.62 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 4.93 and a beta of 1.00. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. Jefferies Financial Group downgraded shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Guggenheim increased their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $104.40.

About Starbucks

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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