Ascent Wealth Partners LLC Has $479,000 Stake in Starbucks Corporation (NASDAQ:SBUX)

Ascent Wealth Partners LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 69.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,885 shares of the coffee company’s stock after buying an additional 2,000 shares during the period. Ascent Wealth Partners LLC’s holdings in Starbucks were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks during the 4th quarter worth approximately $27,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $27,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Starbucks during the 4th quarter worth approximately $32,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on SBUX. TD Securities reissued a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Stifel Nicolaus lifted their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.92.

Starbucks Stock Up 0.0%

Shares of SBUX stock opened at $92.51 on Thursday. The firm has a market capitalization of $105.13 billion, a P/E ratio of 33.52, a P/E/G ratio of 4.73 and a beta of 1.02. Starbucks Corporation has a twelve month low of $72.73 and a twelve month high of $117.46. The stock’s fifty day simple moving average is $89.73 and its 200 day simple moving average is $94.52.

Starbucks (NASDAQ:SBUX) last issued 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). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.64%. Starbucks’s payout ratio is presently 88.41%.

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.