Starbucks Corporation (NASDAQ:SBUX) Stake Increased by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 19.7% during the first quarter, HoldingsChannel reports. The fund owned 11,381 shares of the coffee company’s stock after acquiring an additional 1,875 shares during the quarter. Arkadios Wealth Advisors’ holdings in Starbucks were worth $1,116,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks during the fourth quarter valued at approximately $32,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $41,000. Finally, Accredited Wealth Management LLC acquired a new position in Starbucks during the 4th quarter valued at approximately $44,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBUX. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, TD Cowen lifted their price target on Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.27.

Starbucks Trading Down 2.6%

Shares of SBUX opened at $86.86 on Friday. The business’s 50-day moving average price is $91.73 and its 200 day moving average price is $94.58. The stock has a market capitalization of $98.73 billion, a P/E ratio of 37.44, a P/E/G ratio of 5.08 and a beta of 1.02. Starbucks Corporation has a 1-year low of $72.72 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.8%. Starbucks’s payout ratio is currently 105.17%.

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.