Starbucks Corporation $SBUX Stock Position Lifted by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its stake in Starbucks Corporation by 103.6%, acquiring an additional 26,085 shares and bringing its total holdings to 51,258 shares valued at $5.03 million.
• Starbucks' recent earnings report showed a miss on earnings per share, reporting $0.50 versus the expected $0.64, despite revenues surpassing estimates at $9.46 billion.
• Analysts have set a consensus price target of $104.40 for Starbucks, with several rating it as a "Moderate Buy" based on recent upgrades and downgrades from various brokerages.

Ieq Capital LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 103.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,258 shares of the coffee company's stock after purchasing an additional 26,085 shares during the quarter. Ieq Capital LLC's holdings in Starbucks were worth $5,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. TrinityPoint Wealth LLC increased its stake in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after purchasing an additional 89 shares during the last quarter. Benin Management CORP increased its stake in Starbucks by 0.7% in the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after purchasing an additional 120 shares during the last quarter. Ted Buchan & Co increased its stake in Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after purchasing an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its stake in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock worth $349,000 after acquiring an additional 122 shares during the last quarter. Finally, Guardian Wealth Advisors LLC NC increased its stake in Starbucks by 2.3% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 5,388 shares of the coffee company's stock worth $492,000 after acquiring an additional 123 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX traded up $0.17 on Monday, reaching $88.19. The company's stock had a trading volume of 6,312,155 shares, compared to its average volume of 8,217,745. The stock has a market cap of $100.25 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 5.23 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The business's 50 day moving average is $91.88 and its 200 day moving average is $92.25.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the prior year, the company posted $0.93 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. JPMorgan Chase & Co. upped their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. Guggenheim upped their price target on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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.