Wealthfront Advisers LLC Purchases 37,992 Shares of Starbucks Corporation (NASDAQ:SBUX)

Wealthfront Advisers LLC grew its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 48.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 116,070 shares of the coffee company's stock after buying an additional 37,992 shares during the period. Wealthfront Advisers LLC's holdings in Starbucks were worth $11,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. TrinityPoint Wealth LLC lifted its position in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after purchasing an additional 89 shares during the period. Pioneer Trust Bank N A OR raised its stake in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after buying an additional 92 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its holdings in Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after buying an additional 97 shares during the period. Gamco Investors INC. ET AL boosted its stake in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after acquiring an additional 97 shares during the last quarter. Finally, Taurus Asset Management LLC grew its holdings in Starbucks by 0.5% during the 4th quarter. Taurus Asset Management LLC now owns 21,895 shares of the coffee company's stock worth $1,998,000 after acquiring an additional 100 shares during the period. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBUX. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Royal Bank Of Canada boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays decreased their price target on shares of Starbucks from $108.00 to $106.00 and set an "overweight" rating for the company in a report on Thursday. Finally, CICC Research began coverage on Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of "Hold" and an average target price of $98.85.

Starbucks Price Performance

NASDAQ SBUX traded up $0.66 on Thursday, hitting $93.17. 5,925,025 shares of the stock were exchanged, compared to its average volume of 10,781,103. The company has a market capitalization of $105.88 billion, a PE ratio of 33.72, a P/E/G ratio of 4.73 and a beta of 1.02. The business's fifty day moving average is $89.73 and its 200 day moving average is $94.52. Starbucks Corporation has a 52 week low of $72.73 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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 issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.62%. Starbucks's dividend payout ratio 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.