Starbucks Co. (NASDAQ:SBUX) Stock Holdings Boosted by Procyon Advisors LLC

Procyon Advisors LLC increased its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,048 shares of the coffee company's stock after buying an additional 5,028 shares during the period. Procyon Advisors LLC's holdings in Starbucks were worth $4,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Intellectus Partners LLC boosted its holdings in shares of Starbucks by 36.5% during the first quarter. Intellectus Partners LLC now owns 15,618 shares of the coffee company's stock worth $1,532,000 after purchasing an additional 4,180 shares during the last quarter. Curat Global LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $801,000. Generali Investments Management Co LLC increased its holdings in shares of Starbucks by 110.6% during the 1st quarter. Generali Investments Management Co LLC now owns 4,190 shares of the coffee company's stock worth $411,000 after buying an additional 2,200 shares during the last quarter. Foster Group Inc. raised its position in shares of Starbucks by 14.9% in the 1st quarter. Foster Group Inc. now owns 3,314 shares of the coffee company's stock worth $325,000 after buying an additional 429 shares during the period. Finally, Vest Financial LLC raised its position in shares of Starbucks by 73.5% in the 1st quarter. Vest Financial LLC now owns 15,789 shares of the coffee company's stock worth $1,549,000 after buying an additional 6,689 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX stock traded up $2.65 on Friday, hitting $89.64. 8,771,082 shares of the stock traded hands, compared to its average volume of 11,064,523. The company's fifty day moving average is $84.63 and its 200 day moving average is $95.25. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market capitalization of $101.87 billion, a PE ratio of 28.92, a PEG ratio of 3.59 and a beta of 1.00.

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 analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Royal Bank of Canada lowered Starbucks from an "outperform" rating to a "sector perform" rating in a research note on Thursday, May 29th. Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. TD Securities reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Barclays cut their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $97.92.

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.