Starbucks Corporation $SBUX Shares Bought by CW Advisors LLC

Key Points

• CW Advisors LLC has significantly increased its stake in Starbucks Corporation by 109.4% in the first quarter, now holding 36,079 shares valued at approximately $3.52 million.
• Starbucks recently reported a drop in earnings per share to $0.50, missing estimates of $0.64, despite revenue exceeding expectations at $9.46 billion, up 3.8% year-over-year.
• The company's quarterly dividend has been declared at $0.61 per share, translating to an annualized yield of 2.8%, although its payout ratio stands at a high 105.17%.

CW Advisors LLC raised its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 109.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,079 shares of the coffee company's stock after purchasing an additional 18,849 shares during the period. CW Advisors LLC's holdings in Starbucks were worth $3,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors purchased a new position in Starbucks in the 4th quarter valued at $285,000. Czech National Bank lifted its holdings in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Starbucks in the 1st quarter valued at $998,000. Finally, Norden Group LLC lifted its holdings in Starbucks by 66.1% in the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock valued at $2,964,000 after purchasing an additional 12,027 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Cowen restated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Loop Capital set a $165.00 price target on Starbucks in a report on Tuesday, August 12th. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Morgan Stanley reiterated an "overweight" rating and set a $103.00 price target (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, TD Cowen lifted their price target on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $0.82 during midday trading on Tuesday, reaching $86.63. 9,305,358 shares of the company's stock were exchanged, compared to its average volume of 11,582,295. The firm's 50 day simple moving average is $92.24 and its two-hundred day simple moving average is $93.06. The stock has a market cap of $98.47 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 5.09 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. Equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is currently 105.17%.

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.