Bleakley Financial Group LLC Buys 2,800 Shares of Starbucks Corporation (NASDAQ:SBUX)

Bleakley Financial Group LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,349 shares of the coffee company's stock after purchasing an additional 2,800 shares during the quarter. Bleakley Financial Group LLC's holdings in Starbucks were worth $1,898,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Prudent Man Advisors LLC lifted its position in Starbucks by 5.5% in the first quarter. Prudent Man Advisors LLC now owns 7,150 shares of the coffee company's stock worth $701,000 after purchasing an additional 373 shares during the period. LRI Investments LLC lifted its position in shares of Starbucks by 14.4% during the 1st quarter. LRI Investments LLC now owns 1,840 shares of the coffee company's stock valued at $180,000 after acquiring an additional 232 shares during the last quarter. CWM LLC lifted its position in shares of Starbucks by 6.8% during the 1st quarter. CWM LLC now owns 143,414 shares of the coffee company's stock valued at $14,067,000 after acquiring an additional 9,114 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the 1st quarter valued at $27,000. Finally, Pittenger & Anderson Inc. lifted its position in shares of Starbucks by 126.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 16,690 shares of the coffee company's stock valued at $1,637,000 after acquiring an additional 9,306 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SBUX shares. Robert W. Baird restated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. BMO Capital Markets dropped their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 target price on the stock. Guggenheim lowered their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up 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, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average target price of $98.85.

Starbucks Trading Up 0.4%

Shares of SBUX stock traded up $0.39 on Thursday, hitting $92.90. The stock had a trading volume of 5,238,502 shares, compared to its average volume of 10,778,377. Starbucks Corporation has a twelve month low of $72.73 and a twelve month high of $117.46. The firm has a market cap of $105.57 billion, a P/E ratio of 33.66, a PEG ratio of 4.73 and a beta of 1.02. The company has a fifty day moving average price of $89.73 and a two-hundred day moving average price of $94.52.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm earned $0.68 EPS. Starbucks's quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.63%. Starbucks's dividend payout ratio is currently 88.41%.

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.