NBC Securities Inc. Buys 8,343 Shares of Starbucks Co. (NASDAQ:SBUX)

NBC Securities Inc. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 166,860.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,348 shares of the coffee company’s stock after purchasing an additional 8,343 shares during the quarter. NBC Securities Inc.’s holdings in Starbucks were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Financial Concepts LLC bought a new stake in Starbucks in the fourth quarter worth $62,000. Arizona State Retirement System increased its position in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new stake in Starbucks in the fourth quarter worth $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks in the fourth quarter worth $258,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in Starbucks in the fourth quarter worth $285,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $86.60 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a 50-day moving average of $85.04 and a 200 day moving average of $95.40. The firm has a market cap of $98.41 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s payout ratio is 88.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Barclays cut their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. TD Securities reiterated a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Finally, Guggenheim cut their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.92.

About Starbucks

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.