Avantax Advisory Services Inc. Buys 5,038 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Avantax Advisory Services Inc. increased its stake in Starbucks Corporation by 6.3%, acquiring an additional 5,038 shares, bringing its total holdings to 85,173 shares, valued at approximately $8.36 million.
• Starbucks recently declared a quarterly dividend of $0.61 per share, to be paid on August 29, which represents a 2.58% yield.
• Current analyst ratings for Starbucks include a mix of recommendations, with a consensus rating of "Hold" and an average target price of $98.58, reflecting various price adjustments among major financial institutions.

Avantax Advisory Services Inc. raised its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,173 shares of the coffee company's stock after acquiring an additional 5,038 shares during the period. Avantax Advisory Services Inc.'s holdings in Starbucks were worth $8,355,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Royal Bank Of Canada raised their target price on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. reduced their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company cut their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Four 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $98.58.

Starbucks Price Performance

Shares of Starbucks stock opened at $94.42 on Friday. Starbucks Corporation has a one year low of $72.72 and a one year high of $117.46. The firm has a market capitalization of $107.30 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 6.55 and a beta of 1.02. The business has a 50-day simple moving average of $91.05 and a 200 day simple moving average of $94.65.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion during 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 business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.58%. Starbucks's dividend payout ratio (DPR) is currently 88.41%.

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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