Vestmark Advisory Solutions Inc. Raises Holdings in Starbucks Corporation $SBUX

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Starbucks Corporation by 116.4% in the first quarter, bringing its holdings to 72,314 shares valued at approximately $7.09 million.
• Research analysts have recently upgraded Starbucks' rating, with Baird R W moving it from "hold" to "strong-buy," reflecting positive outlooks amidst varying price targets from different firms.
• Starbucks plans to distribute a quarterly dividend of $0.61 per share on August 29th, with an annualized payout reflecting a yield of 2.6%, despite a high payout ratio of 105.17%.

Vestmark Advisory Solutions Inc. raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 116.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,314 shares of the coffee company's stock after acquiring an additional 38,900 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Starbucks were worth $7,093,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks in the 4th quarter worth $25,000. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter valued at $27,000. McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter valued at $29,000. Kapitalo Investimentos Ltda purchased a new position in shares of Starbucks in the 4th quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of Starbucks in the 4th quarter worth $41,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SBUX shares. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. UBS Group lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.65.

Starbucks Stock Down 1.9%

Shares of NASDAQ SBUX traded down $1.72 during mid-day trading on Tuesday, reaching $90.82. 3,884,391 shares of the company were exchanged, compared to its average volume of 10,504,491. The stock has a market cap of $103.24 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a 50-day moving average of $92.83 and a 200 day moving average of $93.88.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter last year, the company earned $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced 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 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is currently 105.17%.

About Starbucks

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.