Starbucks Co. (NASDAQ:SBUX) Shares Bought by Northstar Advisory Group LLC

Northstar Advisory Group LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,492 shares of the coffee company’s stock after purchasing an additional 1,517 shares during the quarter. Starbucks makes up 1.8% of Northstar Advisory Group LLC’s portfolio, making the stock its 17th largest holding. Northstar Advisory Group LLC’s holdings in Starbucks were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Pallas Capital Advisors LLC grew its position in Starbucks by 99.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,870 shares of the coffee company’s stock worth $478,000 after purchasing an additional 2,428 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Starbucks by 6.3% in the 1st quarter. Farther Finance Advisors LLC now owns 43,710 shares of the coffee company’s stock worth $4,294,000 after purchasing an additional 2,583 shares in the last quarter. City Holding Co. lifted its stake in Starbucks by 3.9% during the first quarter. City Holding Co. now owns 29,634 shares of the coffee company’s stock valued at $2,907,000 after purchasing an additional 1,117 shares during the last quarter. Daymark Wealth Partners LLC lifted its stake in Starbucks by 3.3% during the first quarter. Daymark Wealth Partners LLC now owns 11,692 shares of the coffee company’s stock valued at $1,147,000 after purchasing an additional 369 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Starbucks by 141.1% in the first quarter. Portside Wealth Group LLC now owns 36,221 shares of the coffee company’s stock worth $3,553,000 after buying an additional 21,197 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBUX shares. Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. The Goldman Sachs Group lowered 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. Finally, Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research note 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 company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $97.92.

Starbucks Stock Performance

SBUX opened at $89.64 on Monday. The stock has a 50-day moving average of $84.45 and a 200-day moving average of $95.14. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market cap of $101.87 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. On average, research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm 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 (DPR) is presently 88.41%.

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.