Independent Advisor Alliance Acquires 5,246 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Independent Advisor Alliance increased its stake in Starbucks Corporation by 21.4% during the first quarter, holding 29,798 shares valued at approximately $2.92 million.
• Several institutional investors recently acquired positions in Starbucks, contributing to the company's 72.29% ownership by institutional investors and hedge funds.
• Starbucks reported a quarterly dividend of $0.61 per share, with the payout scheduled for August 29th, representing an annualized yield of 2.7% and a payout ratio of 105.17%.

Independent Advisor Alliance increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,798 shares of the coffee company's stock after purchasing an additional 5,246 shares during the quarter. Independent Advisor Alliance's holdings in Starbucks were worth $2,923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Brighton Jones LLC lifted its position in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. Federated Hermes Inc. lifted its position in Starbucks by 6.2% in the fourth quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock worth $486,000 after purchasing an additional 311 shares during the period. Sagespring Wealth Partners LLC bought a new position in Starbucks in the fourth quarter worth $728,000. SageView Advisory Group LLC lifted its position in Starbucks by 4.2% in the fourth quarter. SageView Advisory Group LLC now owns 11,814 shares of the coffee company's stock worth $1,078,000 after purchasing an additional 471 shares during the period. Finally, CreativeOne Wealth LLC lifted its position in Starbucks by 2.0% in the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock worth $927,000 after purchasing an additional 196 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SBUX. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $100.00 to $115.00 in a report on Tuesday. Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $104.19.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.81 during trading on Wednesday, hitting $94.18. 6,490,754 shares of the company were exchanged, compared to its average volume of 11,890,718. The firm has a market capitalization of $107.05 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm's fifty day moving average price is $92.65 and its 200 day moving average price is $94.31.

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

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is presently 105.17%.

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.