Steward Partners Investment Advisory LLC Acquires 11,097 Shares of Starbucks Corporation $SBUX

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Starbucks by 8.4% in Q1 by acquiring an additional 11,097 shares, bringing its total to 143,648 shares valued at approximately $14.09 million.
• Starbucks recently reported quarterly earnings, posting $0.50 EPS, which missed consensus estimates by $0.14, despite achieving a 3.8% increase in revenue year-over-year, reaching $9.46 billion.
• The company also announced a quarterly dividend of $0.61 per share, with an annualized dividend yield of 2.7%, although its current payout ratio is over 105%.

Steward Partners Investment Advisory LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 143,648 shares of the coffee company's stock after buying an additional 11,097 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Starbucks were worth $14,090,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks during the fourth quarter valued at approximately $285,000. Czech National Bank grew its stake in shares of Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after buying an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC grew its stake in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares during the last quarter. Norden Group LLC grew its stake in Starbucks by 66.1% in the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after purchasing an additional 12,027 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new position in Starbucks in the first quarter worth approximately $4,314,000. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 2.6%

Shares of SBUX opened at $90.60 on Monday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a fifty day moving average price of $92.80 and a 200-day moving average price of $93.99. The firm has a market cap of $102.99 billion, a PE ratio of 39.05, a P/E/G ratio of 5.32 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 36.23%. The business had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the company posted $0.93 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBUX. TD Cowen increased their price objective on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and issued a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Guggenheim increased 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. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $103.65.

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.

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