Cetera Investment Advisers Boosts Stake in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Cetera Investment Advisers increased its stake in Starbucks Corporation by 3.4%, owning 514,334 shares valued at $50.45 million as of the latest reporting period.
• Institutional investors and hedge funds collectively hold 72.29% of Starbucks' stock, indicating strong institutional interest in the company.
• Starbucks recently announced a quarterly dividend of $0.61, to be paid on August 29th, with a total annualized dividend of $2.44 and a yield of 2.58%.

Cetera Investment Advisers boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 514,334 shares of the coffee company's stock after purchasing an additional 17,127 shares during the quarter. Cetera Investment Advisers' holdings in Starbucks were worth $50,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Capital World Investors grew its stake in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC boosted its stake in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after acquiring an additional 718,880 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Starbucks by 4.6% during the 4th quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock worth $1,238,567,000 after acquiring an additional 600,151 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. Wells Fargo & Company lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday. TD Securities restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Citigroup restated a "neutral" rating and set a $100.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Monday, July 14th. Finally, Evercore ISI restated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $100.58.

Starbucks Price Performance

NASDAQ SBUX traded down $0.29 on Wednesday, reaching $92.67. The company had a trading volume of 21,691,215 shares, compared to its average volume of 10,433,222. The firm has a market cap of $105.31 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 6.48 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The business has a 50 day moving average of $91.38 and a two-hundred day moving average of $94.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued 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 2.63%. Starbucks's payout ratio is 88.41%.

Starbucks 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.