Accretive Wealth Partners LLC Acquires 2,795 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Accretive Wealth Partners LLC increased its stake in Starbucks Corporation by 18.1%, acquiring an additional 2,795 shares, bringing its total to 18,196 shares valued at approximately $1.78 million.
• Starbucks' recent quarterly earnings revealed $0.41 EPS, which missed expectations of $0.51 EPS, and its revenue came in at $8.76 billion compared to an estimated $8.90 billion.
• The company announced a quarterly dividend of $0.61 per share, resulting in an annualized dividend of $2.44 and a dividend yield of 2.58%.

Accretive Wealth Partners LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,196 shares of the coffee company's stock after purchasing an additional 2,795 shares during the period. Accretive Wealth Partners LLC's holdings in Starbucks were worth $1,785,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks in the fourth quarter worth about $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the 1st quarter worth approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of Starbucks during the 4th quarter worth approximately $32,000. Ball & Co Wealth Management Inc. bought a new position in shares of Starbucks in the 4th quarter worth approximately $41,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $44,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SBUX shares. Bank of America upped their price target on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Citigroup reissued a "neutral" rating and set a $100.00 price target (up from $95.00) on shares of Starbucks in a research report on Monday, July 14th. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Barclays cut their price objective on shares of Starbucks from $108.00 to $106.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.58.

Starbucks Price Performance

Shares of SBUX stock opened at $94.42 on Friday. The company has a market capitalization of $107.30 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 6.50 and a beta of 1.02. Starbucks Corporation has a one year low of $72.72 and a one year high of $117.46. The company's fifty day moving average price is $91.05 and its 200-day moving average price is $94.64.

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

Starbucks Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.58%. Starbucks's payout ratio is 88.41%.

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.

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