Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 28.3% in the first quarter, Holdings Channel.com reports. The firm owned 32,608 shares of the coffee company’s stock after acquiring an additional 7,197 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Starbucks were worth $3,199,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SBUX. Vanguard Group Inc. boosted its holdings in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Capital World Investors lifted its stake in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC grew its position in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after buying an additional 718,880 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of Starbucks stock opened at $83.68 on Friday. The firm has a market cap of $95.09 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm’s 50-day simple moving average is $85.54 and its 200-day simple moving average is $95.58. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

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 analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is 88.41%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBUX. Guggenheim cut their target price on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and cut their price target for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. TD Securities restated a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Thursday. Baird R W downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, BMO Capital Markets decreased their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $97.92.

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.