Starbucks Corporation (NASDAQ:SBUX) Shares Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,967 shares of the coffee company's stock after purchasing an additional 3,658 shares during the period. Crestwood Advisors Group LLC's holdings in Starbucks were worth $4,607,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after buying an additional 81,952 shares during the period. Thrivent Financial for Lutherans grew its position in Starbucks by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company's stock worth $5,859,000 after buying an additional 260 shares during the period. Teacher Retirement System of Texas grew its position in Starbucks by 64.3% during the fourth quarter. Teacher Retirement System of Texas now owns 66,843 shares of the coffee company's stock worth $6,099,000 after buying an additional 26,164 shares during the period. Virtu Financial LLC acquired a new position in Starbucks during the fourth quarter worth about $1,284,000. Finally, LPL Financial LLC grew its position in Starbucks by 7.6% during the fourth quarter. LPL Financial LLC now owns 2,096,630 shares of the coffee company's stock worth $191,382,000 after buying an additional 147,944 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock traded down $2.06 during midday trading on Thursday, hitting $93.86. 5,545,655 shares of the stock were exchanged, compared to its average volume of 10,292,074. Starbucks Corporation has a 1 year low of $72.72 and a 1 year high of $117.46. The firm has a market cap of $106.66 billion, a P/E ratio of 34.00, a P/E/G ratio of 6.69 and a beta of 1.02. The company has a 50 day moving average price of $90.74 and a two-hundred day moving average price of $94.62.

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

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is currently 88.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays lowered their price target on shares of Starbucks from $108.00 to $106.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $98.58.

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.