Aptus Capital Advisors LLC Grows Stock Holdings in Starbucks Corporation $SBUX

Key Points

• Aptus Capital Advisors LLC increased its Starbucks holdings by 72.6% in Q1, owning 31,674 shares valued at approximately $3.1 million.
• Starbucks announced a quarterly dividend of $0.61 per share, with a yield of 2.7% and a payout ratio of 105.17%.
• Analysts maintain a favorable outlook with an average price target of $103.65 for Starbucks, following boosted price objectives from major firms like Barclays and JPMorgan Chase.

Aptus Capital Advisors LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 72.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,674 shares of the coffee company's stock after purchasing an additional 13,318 shares during the quarter. Aptus Capital Advisors LLC's holdings in Starbucks were worth $3,107,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. TrinityPoint Wealth LLC raised its holdings in shares of Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after purchasing an additional 89 shares in the last quarter. Mendel Capital Management LLC raised its holdings in shares of Starbucks by 1.8% in the 4th quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company's stock valued at $522,000 after purchasing an additional 101 shares in the last quarter. Benin Management CORP raised its holdings in shares of Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after purchasing an additional 120 shares in the last quarter. Ted Buchan & Co raised its holdings in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its holdings in shares of Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Sanford C. Bernstein boosted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday, August 12th. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $103.65.

Starbucks Trading Down 1.7%

NASDAQ:SBUX opened at $90.93 on Wednesday. The company has a market cap of $103.36 billion, a PE ratio of 39.19, a P/E/G ratio of 5.43 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company's 50 day moving average is $92.82 and its two-hundred day moving average is $93.86.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its 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 company had revenue of $9.46 billion for 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 firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. As a group, analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is currently 105.17%.

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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