Ascent Group LLC Acquires 7,670 Shares of Starbucks Corporation $SBUX

Key Points

• Ascent Group LLC increased its holdings in Starbucks by 62.1%, owning a total of 20,013 shares valued at approximately $1.96 million as of the latest reporting period.
• Starbucks announced a quarterly dividend of $0.61 per share, with a 2.8% yield, and a payout ratio of 105.17%.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing estimates, while revenue rose 3.8% year-over-year to $9.46 billion.

Ascent Group LLC boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 62.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,013 shares of the coffee company's stock after buying an additional 7,670 shares during the period. Ascent Group LLC's holdings in Starbucks were worth $1,963,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the 1st quarter worth approximately $29,000. Activest Wealth Management raised its holdings in shares of Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $32,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX stock traded up $0.82 during midday trading on Tuesday, reaching $86.63. 9,305,358 shares of the company were exchanged, compared to its average volume of 11,582,295. The business has a 50-day moving average price of $92.24 and a two-hundred day moving average price of $93.06. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm has a market capitalization of $98.47 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 5.09 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm 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, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is 105.17%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SBUX. CICC Research began coverage on shares of Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective on the stock. TD Cowen lifted their price objective on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. UBS Group lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Cowen reiterated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.40.

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.