WealthBridge Investment Counsel Inc. Purchases 4,145 Shares of Starbucks Corporation $SBUX

Key Points

• WealthBridge Investment Counsel Inc. increased its stake in Starbucks Corporation by 5.7%, owning 76,513 shares worth approximately $7.01 million as of its latest SEC filing.
• Institutional investors own 72.29% of Starbucks's shares, with significant increases in holdings from firms like Vanguard Group and Goldman Sachs.
• Starbucks reported a quarterly earnings miss with $0.50 earnings per share, while also announcing a quarterly dividend of $0.61 per share, reflecting a yield of 2.9%.

WealthBridge Investment Counsel Inc. grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,513 shares of the coffee company's stock after purchasing an additional 4,145 shares during the period. Starbucks makes up about 2.3% of WealthBridge Investment Counsel Inc.'s holdings, making the stock its 19th biggest position. WealthBridge Investment Counsel Inc.'s holdings in Starbucks were worth $7,011,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Napa Wealth Management acquired a new position in Starbucks during the 1st quarter worth $1,435,000. Czech National Bank raised its stake in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after purchasing 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 1st 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 in the last quarter. First Manhattan CO. LLC. grew its holdings in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after acquiring an additional 111,015 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Starbucks in the 1st quarter worth about $998,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Cowen reiterated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. TD Cowen increased their price target on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Bank of America raised their price objective on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have given 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 a consensus target price of $104.40.

Starbucks Stock Up 1.4%

SBUX traded up $1.14 during midday trading on Friday, reaching $84.56. 15,308,130 shares of the company's stock were exchanged, compared to its average volume of 8,789,170. The firm has a market capitalization of $96.12 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 5.05 and a beta of 1.00. The business has a 50-day simple moving average of $89.34 and a two-hundred day simple moving average of $89.48. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks's payout ratio is presently 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.