Starbucks Corporation $SBUX Shares Bought by Alliance Wealth Advisors LLC UT

Key Points

• Alliance Wealth Advisors LLC UT increased its holdings in Starbucks by 164.3% during the first quarter, owning 24,816 shares valued at approximately $2.43 million at the quarter's end.
• Starbucks reported a quarterly earnings miss with $0.50 earnings per share, falling short of the consensus estimate of $0.64, despite achieving a revenue of $9.46 billion, which exceeded expectations.
• Several analysts have upgraded Starbucks' stock ratings and target prices, with an average target price now set at $103.65 and a consensus rating of "Hold."

Alliance Wealth Advisors LLC UT boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 164.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,816 shares of the coffee company's stock after acquiring an additional 15,425 shares during the period. Alliance Wealth Advisors LLC UT's holdings in Starbucks were worth $2,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock worth $10,991,923,000 after acquiring an additional 953,361 shares in the last quarter. Capital World Investors raised its holdings in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the period. Nuveen LLC purchased a new stake in Starbucks in the first quarter worth $1,379,619,000. Northern Trust Corp increased its stake in Starbucks by 4.6% in the fourth quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock worth $1,238,567,000 after purchasing an additional 600,151 shares during the period. Finally, Capital International Investors increased its stake in Starbucks by 2.7% in the fourth quarter. Capital International Investors now owns 10,191,918 shares of the coffee company's stock worth $929,898,000 after purchasing an additional 267,736 shares during the period. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus increased their target price on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company increased their target price on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Guggenheim increased their target price on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley reiterated an "overweight" rating and issued a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $103.65.

Starbucks Price Performance

Starbucks stock traded up $1.94 during midday trading on Monday, reaching $92.54. The company's stock had a trading volume of 7,373,523 shares, compared to its average volume of 12,063,601. The stock's 50-day simple moving average is $92.83 and its 200-day simple moving average is $93.88. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market capitalization of $105.19 billion, a P/E ratio of 39.89, a PEG ratio of 5.32 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, 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 paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

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.