5,540 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by Sweeney & Michel LLC

Sweeney & Michel LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,540 shares of the coffee company's stock, valued at approximately $543,000.

Several other large investors also recently made changes to their positions in SBUX. Strategic Financial Concepts LLC bought a new stake in Starbucks in the 4th quarter valued at $62,000. Arizona State Retirement System increased its holdings in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter valued at $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks in the fourth quarter valued at about $258,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in shares of Starbucks during the 4th quarter worth about $285,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Up 1.7%

SBUX traded up $1.41 on Tuesday, reaching $86.60. The stock had a trading volume of 8,284,436 shares, compared to its average volume of 11,097,406. The company has a market capitalization of $98.41 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a 50-day moving average of $85.28 and a 200-day moving average of $95.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the company earned $0.68 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks's payout ratio is currently 88.41%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. Robert W. Baird reissued a "neutral" rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. BMO Capital Markets decreased their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. TD Cowen reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Finally, Barclays dropped their target price on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Hold" and a consensus price target of $97.92.

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.