Venturi Wealth Management LLC Boosts Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Venturi Wealth Management LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 179.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,825 shares of the coffee company's stock after purchasing an additional 8,872 shares during the quarter. Venturi Wealth Management LLC's holdings in Starbucks were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth $25,000. Graney & King LLC purchased a new stake in Starbucks in the 4th quarter worth about $26,000. Hughes Financial Services LLC acquired a new position in Starbucks in the 1st quarter worth about $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks during the 4th quarter valued at about $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in Starbucks in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 2.3%

NASDAQ:SBUX traded down $2.22 during midday trading on Thursday, hitting $93.70. The company had a trading volume of 7,894,263 shares, compared to its average volume of 7,867,497. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The stock's fifty day moving average price is $90.87 and its 200-day moving average price is $94.63. The company has a market capitalization of $106.48 billion, a PE ratio of 33.95, a P/E/G ratio of 6.63 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results 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). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.60%. Starbucks's payout ratio is 88.41%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Citigroup reiterated a "neutral" rating and set a $100.00 target price (up previously from $95.00) on shares of Starbucks in a report on Monday, July 14th. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Bank of America increased their price target on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price target on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and an average price target of $98.58.

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.