Napa Wealth Management Buys Shares of 14,630 Starbucks Corporation $SBUX

Key Points

• Napa Wealth Management acquired 14,630 shares of Starbucks Corporation, valued at approximately $1,435,000, during the first quarter.
• Starbucks recently reported $0.50 EPS for the quarter, missing the consensus estimate, and experienced a revenue increase of 3.8% year-over-year.
• The company announced a quarterly dividend of $0.61 per share, representing an annualized dividend yield of 2.8% with a payout ratio of 105.17%.

Napa Wealth Management bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,630 shares of the coffee company's stock, valued at approximately $1,435,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Brighton Jones LLC boosted its stake in 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 acquiring an additional 81,952 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Starbucks by 1,548.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,513,437 shares of the coffee company's stock valued at $138,102,000 after purchasing an additional 1,421,600 shares during the period. Burling Wealth Partners LLC bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $751,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Starbucks by 25.6% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 121,085 shares of the coffee company's stock valued at $11,001,000 after purchasing an additional 24,718 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of Starbucks by 4.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 48,679 shares of the coffee company's stock valued at $4,442,000 after purchasing an additional 1,872 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ SBUX opened at $88.38 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market capitalization of $100.46 billion, a PE ratio of 38.09, a P/E/G ratio of 5.26 and a beta of 1.02. The company's 50 day simple moving average is $92.49 and its two-hundred day simple moving average is $93.54.

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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. Starbucks's dividend payout ratio (DPR) is 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. BMO Capital Markets reissued an "outperform" rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Bank of America boosted their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. TD Cowen boosted their price target on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and a consensus target price of $104.40.

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.

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.