Diversify Advisory Services LLC Raises Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Diversify Advisory Services LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 76.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,248 shares of the coffee company's stock after buying an additional 5,294 shares during the quarter. Diversify Advisory Services LLC's holdings in Starbucks were worth $1,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after acquiring an additional 784,432 shares during the period. Capital World Investors increased its position in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC grew its holdings in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC grew its holdings in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after buying an additional 718,880 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

NASDAQ SBUX traded up $0.61 on Friday, reaching $93.80. The company had a trading volume of 5,172,781 shares, compared to its average volume of 10,676,357. The firm has a market cap of $106.59 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 4.74 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $72.73 and a fifty-two week high of $117.46. The business has a 50 day moving average of $90.22 and a two-hundred day moving average of $94.56.

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

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SBUX. Royal Bank Of Canada boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. BMO Capital Markets lowered their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. UBS Group decreased their price target on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Guggenheim dropped their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus 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.