Bruce G. Allen Investments LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bruce G. Allen Investments LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,264 shares of the coffee company’s stock after purchasing an additional 273 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Starbucks were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Capital & Planning LLC raised its stake in shares of Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after acquiring an additional 3,483 shares in the last quarter. Brighton Jones LLC grew its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Silver Oak Securities Incorporated increased its position in shares of Starbucks by 54.7% during the fourth quarter. Silver Oak Securities Incorporated now owns 4,509 shares of the coffee company’s stock worth $408,000 after purchasing an additional 1,594 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Starbucks during the fourth quarter worth $62,000. Finally, Joel Isaacson & Co. LLC lifted its holdings in shares of Starbucks by 4.2% during the 4th quarter. Joel Isaacson & Co. LLC now owns 8,126 shares of the coffee company’s stock valued at $741,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. BMO Capital Markets dropped their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Citigroup dropped their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $97.92.

Starbucks Trading Up 3.0%

Starbucks stock opened at $89.64 on Monday. The firm has a market cap of $101.87 billion, a PE ratio of 28.92, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock’s 50 day simple moving average is $84.45 and its two-hundred day simple moving average is $95.14.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same period last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 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.