Ashton Thomas Private Wealth LLC Purchases 6,028 Shares of Starbucks Corporation $SBUX

Key Points

• Ashton Thomas Private Wealth LLC increased its Starbucks shares by 9.7%, acquiring an additional 6,028 shares for a total of 68,292 shares valued at $6.7 million.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing estimates, though revenue was up 3.8% year-over-year at $9.46 billion.
• The company announced a quarterly dividend of $0.61 per share, resulting in a 2.9% dividend yield, though its payout ratio is high at 105.17%.

Ashton Thomas Private Wealth LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,292 shares of the coffee company's stock after acquiring an additional 6,028 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Starbucks were worth $6,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the 4th quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in Starbucks during the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. acquired a new position in Starbucks during the 1st quarter worth about $29,000. Activest Wealth Management lifted its holdings in Starbucks by 78.0% during the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock worth $32,000 after buying an additional 145 shares during the period. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks during the 4th quarter worth about $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX opened at $85.43 on Monday. The stock has a 50-day moving average of $91.54 and a 200-day moving average of $91.53. The company has a market cap of $97.11 billion, a PE ratio of 36.82, a P/E/G ratio of 5.09 and a beta of 1.00. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. Analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.9%. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Barclays upped their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Stifel Nicolaus upped their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 17th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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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