Fragasso Financial Advisors Inc Acquires 18,517 Shares of Starbucks Co. (NASDAQ:SBUX)

Fragasso Financial Advisors Inc boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 173.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,223 shares of the coffee company's stock after acquiring an additional 18,517 shares during the period. Fragasso Financial Advisors Inc's holdings in Starbucks were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. NBC Securities Inc. lifted its holdings in shares of Starbucks by 166,860.0% in the first quarter. NBC Securities Inc. now owns 8,348 shares of the coffee company's stock valued at $818,000 after purchasing an additional 8,343 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in Starbucks by 20.8% during the first quarter. Baker Tilly Wealth Management LLC now owns 12,249 shares of the coffee company's stock worth $1,202,000 after acquiring an additional 2,111 shares in the last quarter. Czech National Bank raised its holdings in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Starbucks by 28.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 32,608 shares of the coffee company's stock worth $3,199,000 after acquiring an additional 7,197 shares in the last quarter. Finally, Fulcrum Capital LLC bought a new stake in Starbucks during the first quarter worth about $591,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.1%

Starbucks stock traded up $0.13 during trading hours on Thursday, reaching $88.24. 2,903,630 shares of the company's stock were exchanged, compared to its average volume of 11,045,865. The firm's 50 day simple moving average is $84.85 and its 200 day simple moving average is $95.35. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market capitalization of $100.28 billion, a PE ratio of 28.46, a PEG ratio of 3.59 and a beta of 1.00.

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 the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.61 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.77%. Starbucks's dividend payout ratio is presently 88.41%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. The Goldman Sachs Group lowered Starbucks from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Royal Bank of Canada downgraded Starbucks from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Finally, Guggenheim cut their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of "Hold" and a consensus target price of $97.92.

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.