Verdence Capital Advisors LLC Has $1.09 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Verdence Capital Advisors LLC increased its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 94.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,147 shares of the coffee company's stock after purchasing an additional 5,422 shares during the quarter. Verdence Capital Advisors LLC's holdings in Starbucks were worth $1,093,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter worth $27,000. Graney & King LLC purchased a new position in Starbucks during the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks during the fourth quarter worth about $27,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $32,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. TD Securities reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Royal Bank Of Canada increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Sanford C. Bernstein raised 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. Stifel Nicolaus raised their price objective on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $98.85.

Starbucks Stock Performance

NASDAQ:SBUX opened at $93.19 on Friday. Starbucks Corporation has a fifty-two week low of $72.73 and a fifty-two week high of $117.46. The stock has a market capitalization of $105.90 billion, a P/E ratio of 33.76, a PEG ratio of 4.74 and a beta of 1.02. The company has a 50 day moving average price of $89.95 and a 200 day moving average price of $94.54.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 2.62%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 88.41%.

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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