LPL Financial LLC Has $219.87 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• LPL Financial LLC increased its stake in Starbucks Corporation by 7.1% during the first quarter, now holding approximately 2,244,844 shares worth $219.9 million.
• Starbucks reported earnings per share (EPS) of $0.41 for the last quarter, which fell short of the analysts' consensus estimate of $0.51.
• The company announced a quarterly dividend of $0.61 to be paid on August 29th, leading to an annualized dividend of $2.44, representing a yield of 2.58%.

LPL Financial LLC raised its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,244,844 shares of the coffee company's stock after purchasing an additional 148,214 shares during the quarter. LPL Financial LLC owned 0.20% of Starbucks worth $219,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC increased its holdings in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR lifted its position in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after purchasing an additional 92 shares during the period. Gamco Investors INC. ET AL lifted 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 acquiring an additional 97 shares during the period. Foster Dykema Cabot & Partners LLC increased its stake 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 worth $93,000 after purchasing an additional 97 shares in the last quarter. Finally, Taurus Asset Management LLC increased its stake 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 worth $1,998,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Barclays raised their target price on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday. BMO Capital Markets reaffirmed an "outperform" rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a report on Wednesday. Finally, Citigroup lowered their price target on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $101.27.

Starbucks Stock Performance

Shares of SBUX stock traded down $1.38 during trading hours on Thursday, hitting $91.38. The company had a trading volume of 7,916,343 shares, compared to its average volume of 10,583,646. Starbucks Corporation has a 12 month low of $72.72 and a 12 month high of $117.46. The firm has a market capitalization of $103.84 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 6.43 and a beta of 1.02. The firm's fifty day moving average is $91.57 and its 200 day moving average is $94.65.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.43%. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 dividend on an annualized basis and a yield of 2.67%. Starbucks's dividend payout ratio (DPR) is presently 88.41%.

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.