Markel Group Inc. Buys 6,500 Shares of Starbucks Corporation (NASDAQ:SBUX)

Markel Group Inc. lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 623,818 shares of the coffee company's stock after acquiring an additional 6,500 shares during the quarter. Markel Group Inc. owned about 0.05% of Starbucks worth $61,190,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Mystic Asset Management Inc. grew its holdings in Starbucks by 427.8% in the 1st quarter. Mystic Asset Management Inc. now owns 14,066 shares of the coffee company's stock valued at $1,380,000 after buying an additional 11,401 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Starbucks by 1.7% in the first quarter. Forum Financial Management LP now owns 18,447 shares of the coffee company's stock worth $1,810,000 after acquiring an additional 308 shares during the last quarter. Bear Mountain Capital Inc. increased its position in Starbucks by 62.0% during the first quarter. Bear Mountain Capital Inc. now owns 745 shares of the coffee company's stock worth $73,000 after acquiring an additional 285 shares during the period. Graypoint LLC raised its stake in Starbucks by 36.4% during the 1st quarter. Graypoint LLC now owns 10,510 shares of the coffee company's stock valued at $1,031,000 after purchasing an additional 2,802 shares during the last quarter. Finally, Ascent Wealth Partners LLC grew its position in Starbucks by 69.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 4,885 shares of the coffee company's stock worth $479,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $93.19 on Friday. The company has a market cap of $105.90 billion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 4.74 and a beta of 1.02. The stock's fifty day moving average price is $89.95 and its two-hundred day moving average price is $94.54. Starbucks Corporation has a 52-week low of $72.73 and a 52-week high of $117.46.

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 the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid 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 presently 88.41%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SBUX shares. TD Cowen reaffirmed a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Evercore ISI reissued an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Guggenheim lowered their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays cut their target price on Starbucks from $108.00 to $106.00 and set an "overweight" rating for the company in a research note on Thursday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average price target 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.