Gradient Investments LLC Purchases 17,700 Shares of Starbucks Co. (NASDAQ:SBUX)

Gradient Investments LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 5.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 345,979 shares of the coffee company's stock after purchasing an additional 17,700 shares during the quarter. Gradient Investments LLC's holdings in Starbucks were worth $33,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks in the 4th quarter valued at approximately $25,000. Financial Life Planners acquired a new stake in Starbucks in the fourth quarter worth $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter valued at $26,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX traded up $0.06 on Thursday, reaching $88.17. The company's stock had a trading volume of 3,796,164 shares, compared to its average volume of 11,048,972. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a market capitalization of $100.20 billion, a P/E ratio of 28.44, a PEG ratio of 3.59 and a beta of 1.00. The stock's 50 day simple moving average is $84.85 and its two-hundred day simple moving average is $95.35.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company's quarterly revenue was up 2.3% on a year-over-year basis. Analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on SBUX. Wells Fargo & Company lowered their price objective 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. BMO Capital Markets dropped 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. Citigroup dropped their price target on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Barclays decreased their price objective on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.