HB Wealth Management LLC Grows Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• HB Wealth Management LLC increased its holdings in Starbucks Corporation by 22.3%, owning 46,580 shares worth approximately $4.57 million as of the latest SEC filing.
• Starbucks reported earnings of $0.41 per share in its latest quarter, falling short of expectations, with revenues of $8.76 billion, slightly below forecasts.
• The company has announced a quarterly dividend of $0.61 per share, with a dividend yield of 2.58%, and a high payout ratio of 88.41%.

HB Wealth Management LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 22.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,580 shares of the coffee company's stock after acquiring an additional 8,499 shares during the period. HB Wealth Management LLC's holdings in Starbucks were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. TrinityPoint Wealth LLC lifted its stake in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR lifted its stake in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after purchasing an additional 92 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after buying an additional 97 shares in the last quarter. Foster Dykema Cabot & Partners LLC raised its position in shares of Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after buying an additional 97 shares in the last quarter. Finally, Taurus Asset Management LLC raised its position in shares of Starbucks by 0.5% during the 4th quarter. Taurus Asset Management LLC now owns 21,895 shares of the coffee company's stock valued at $1,998,000 after buying an additional 100 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX traded down $1.16 during trading on Thursday, hitting $91.60. The stock had a trading volume of 7,142,032 shares, compared to its average volume of 10,575,362. The company has a market capitalization of $104.09 billion, a PE ratio of 39.59, a PEG ratio of 6.43 and a beta of 1.02. Starbucks Corporation has a twelve month low of $72.72 and a twelve month high of $117.46. The stock has a 50 day simple moving average of $91.57 and a two-hundred day simple moving average of $94.65.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.43%. Starbucks's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. On average, equities 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 paid 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 2.66%. Starbucks's payout ratio is currently 88.41%.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. UBS Group upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday. Bank of America increased their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. CICC Research initiated coverage on shares of Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective on the stock. Finally, Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $101.27.

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.