Starbucks Co. (NASDAQ:SBUX) Shares Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its position in Starbucks Co. (NASDAQ:SBUX) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,410 shares of the coffee company’s stock after acquiring an additional 1,949 shares during the quarter. Wesbanco Bank Inc.’s holdings in Starbucks were worth $13,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter worth $25,000. Graney & King LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. Collier Financial bought a new position in Starbucks in the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX 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 firm has a 50 day simple moving average of $84.45 and a 200 day simple moving average of $95.14.

Starbucks (NASDAQ:SBUX) 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). The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.61 per share. The ex-dividend date was Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. Starbucks’s dividend payout ratio is currently 88.41%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBUX. Wells Fargo & Company cut their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Citigroup reduced their price target on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Royal Bank of Canada lowered shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Finally, Stifel Nicolaus dropped their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $97.92.

Starbucks Company 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.