J.W. Cole Advisors Inc. Has $2.77 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

J.W. Cole Advisors Inc. raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 200.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,278 shares of the coffee company's stock after buying an additional 18,867 shares during the period. J.W. Cole Advisors Inc.'s holdings in Starbucks were worth $2,774,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Starbucks by 0.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company's stock worth $5,859,000 after acquiring an additional 260 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Starbucks by 64.3% during the 4th quarter. Teacher Retirement System of Texas now owns 66,843 shares of the coffee company's stock worth $6,099,000 after acquiring an additional 26,164 shares during the period. Virtu Financial LLC purchased a new position in Starbucks during the 4th quarter valued at about $1,284,000. Finally, LPL Financial LLC increased its holdings in shares of Starbucks by 7.6% in the 4th quarter. LPL Financial LLC now owns 2,096,630 shares of the coffee company's stock valued at $191,382,000 after purchasing an additional 147,944 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. Citigroup reiterated a "neutral" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Monday, July 14th. Sanford C. Bernstein boosted their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Wells Fargo & Company cut their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird reissued a "neutral" rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.58.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.78 during midday trading on Friday, hitting $92.92. The company had a trading volume of 2,820,731 shares, compared to its average volume of 10,256,196. Starbucks Corporation has a 1-year low of $72.72 and a 1-year high of $117.46. The business's 50 day simple moving average is $90.87 and its two-hundred day simple moving average is $94.63. The stock has a market cap of $105.59 billion, a PE ratio of 33.67, a P/E/G ratio of 6.63 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter 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. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.63%. Starbucks's dividend payout ratio (DPR) is 88.41%.

About Starbucks

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.