Graypoint LLC Acquires 2,802 Shares of Starbucks Corporation (NASDAQ:SBUX)

Graypoint LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 36.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,510 shares of the coffee company's stock after purchasing an additional 2,802 shares during the period. Graypoint LLC's holdings in Starbucks were worth $1,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ascent Wealth Partners LLC lifted its position in Starbucks by 69.3% during the first quarter. Ascent Wealth Partners LLC now owns 4,885 shares of the coffee company's stock valued at $479,000 after purchasing an additional 2,000 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Starbucks by 94.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 11,147 shares of the coffee company's stock valued at $1,093,000 after buying an additional 5,422 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Starbucks by 14.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 3,224 shares of the coffee company's stock valued at $316,000 after purchasing an additional 396 shares in the last quarter. Lineweaver Wealth Advisors LLC bought a new stake in shares of Starbucks in the 1st quarter valued at about $251,000. Finally, Allen Capital Group LLC grew its position in shares of Starbucks by 13.2% in the 1st quarter. Allen Capital Group LLC now owns 6,493 shares of the coffee company's stock worth $637,000 after buying an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $93.19 on Friday. Starbucks Corporation has a fifty-two week low of $72.73 and a fifty-two week high of $117.46. The firm has a 50-day simple moving average of $89.95 and a two-hundred day simple moving average of $94.54. The company has a market cap of $105.90 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 4.74 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates 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 8.61% and a negative return on equity of 42.14%. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current 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 is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. Starbucks's dividend payout ratio (DPR) is 88.41%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SBUX shares. UBS Group dropped their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Guggenheim reduced their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Royal Bank Of Canada increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Finally, Citigroup restated a "neutral" rating and set a $100.00 target price (up from $95.00) on shares of Starbucks in a research report on Monday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.85.

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.

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