Calton & Associates Inc. Purchases Shares of 4,065 Starbucks Co. (SBUX)

Calton & Associates Inc. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the first quarter, HoldingsChannel reports. The firm purchased 4,065 shares of the coffee company’s stock, valued at approximately $302,000.

A number of other large investors also recently made changes to their positions in the business. Parsec Financial Management Inc. grew its position in Starbucks by 12.3% in the first quarter. Parsec Financial Management Inc. now owns 215,805 shares of the coffee company’s stock valued at $16,043,000 after acquiring an additional 23,715 shares during the period. Coastline Trust Co grew its position in Starbucks by 4.8% in the first quarter. Coastline Trust Co now owns 19,745 shares of the coffee company’s stock valued at $1,468,000 after acquiring an additional 900 shares during the period. RFG Advisory LLC grew its position in Starbucks by 129.2% in the first quarter. RFG Advisory LLC now owns 7,595 shares of the coffee company’s stock valued at $565,000 after acquiring an additional 4,282 shares during the period. Willow Creek Wealth Management Inc. grew its position in Starbucks by 6.8% in the first quarter. Willow Creek Wealth Management Inc. now owns 3,456 shares of the coffee company’s stock valued at $257,000 after acquiring an additional 221 shares during the period. Finally, Squar Milner Financial Services LLC grew its position in Starbucks by 9.3% in the first quarter. Squar Milner Financial Services LLC now owns 9,157 shares of the coffee company’s stock valued at $680,000 after acquiring an additional 781 shares during the period. Hedge funds and other institutional investors own 74.73% of the company’s stock.

Shares of SBUX stock opened at $77.76 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73. The firm has a market cap of $93.07 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.15 and a beta of 0.51. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $78.80.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 2.78 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

A number of analysts have weighed in on the company. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target (up from $70.00) on shares of Starbucks in a research report on Monday, May 6th. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Wednesday. Citigroup upped their price target on Starbucks from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Stephens upped their price target on Starbucks from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.88.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://www.themarketsdaily.com/2019/05/16/calton-associates-inc-purchases-shares-of-4065-starbucks-co-sbux.html.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: Why do company’s buyback their stock?

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.