United Asset Strategies Inc. Raises Stock Position in Starbucks Corporation $SBUX

Key Points

• United Asset Strategies Inc. increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.4%, holding 128,130 shares valued at approximately $12.57 million.
• Starbucks reported a 0.50 EPS for the quarter, missing the consensus estimate of $0.64, while generating revenue of $9.46 billion, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.61, which equates to a 2.7% yield, with a payout ratio currently at 105.17%.

United Asset Strategies Inc. boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,130 shares of the coffee company's stock after buying an additional 3,023 shares during the period. Starbucks accounts for about 1.2% of United Asset Strategies Inc.'s portfolio, making the stock its 28th largest holding. United Asset Strategies Inc.'s holdings in Starbucks were worth $12,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Capital Wealth Advisors acquired a new position in Starbucks in the 4th quarter valued at $285,000. Czech National Bank grew its holdings 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 worth $25,591,000 after buying an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC raised its position in shares of Starbucks by 125.5% in 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. Fox Run Management L.L.C. purchased a new position in shares of Starbucks in the first quarter worth about $998,000. Finally, Norden Group LLC boosted its position in Starbucks by 66.1% during the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after acquiring an additional 12,027 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 0.2%

SBUX traded down $0.18 on Friday, hitting $88.38. The company had a trading volume of 7,616,993 shares, compared to its average volume of 11,528,232. The company's fifty day moving average price is $92.49 and its 200 day moving average price is $93.41. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market cap of $100.46 billion, a P/E ratio of 38.09, a PEG ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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). The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. BMO Capital Markets restated an "outperform" rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Wells Fargo & Company boosted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, UBS Group raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average target price 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.