Starbucks Corporation $SBUX Shares Purchased by Gitterman Wealth Management LLC

Key Points

• Gitterman Wealth Management LLC significantly increased its stake in Starbucks Corporation by 152.1% during the first quarter, now holding 5,963 shares worth approximately $585,000.
• Starbucks recently reported quarterly earnings of $0.50 per share, falling short of analysts' estimates of $0.64, despite achieving a revenue of $9.46 billion.
• The firm also announced a quarterly dividend of $0.61 per share, representing an annualized yield of 2.8%, with a payout ratio of 105.17%.

Gitterman Wealth Management LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 152.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,963 shares of the coffee company's stock after buying an additional 3,598 shares during the quarter. Gitterman Wealth Management LLC's holdings in Starbucks were worth $585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Brighton Jones LLC boosted its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in 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 worth $138,102,000 after purchasing an additional 1,421,600 shares during the period. RiverPark Advisors LLC grew its position in Starbucks by 59.6% in the 4th quarter. RiverPark Advisors LLC now owns 12,587 shares of the coffee company's stock valued at $1,149,000 after buying an additional 4,701 shares in the last quarter. Burling Wealth Partners LLC acquired a new position in Starbucks during the 4th quarter valued at about $751,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Starbucks by 25.6% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 121,085 shares of the coffee company's stock worth $11,001,000 after buying an additional 24,718 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX stock opened at $88.56 on Friday. The stock has a market cap of $100.67 billion, a P/E ratio of 38.17, a P/E/G ratio of 5.31 and a beta of 1.02. The firm has a 50 day simple moving average of $92.59 and a 200 day simple moving average of $93.70. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Announces Dividend

The firm 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 dividend of $0.61 per share. 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 dividend payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Sanford C. Bernstein lifted their price target on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company upped their price target on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Guggenheim raised their price objective on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average price target 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.

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