Starbucks Corporation (NASDAQ:SBUX) Position Boosted by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 94.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 11,147 shares of the coffee company’s stock after purchasing an additional 5,422 shares during the period. Verdence Capital Advisors LLC’s holdings in Starbucks were worth $1,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Brighton Jones LLC boosted its stake in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Starbucks by 10.3% in the 4th quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company’s stock valued at $698,000 after purchasing an additional 714 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Starbucks by 0.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 20,439 shares of the coffee company’s stock valued at $1,865,000 after purchasing an additional 176 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Starbucks by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company’s stock worth $5,859,000 after buying an additional 260 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in Starbucks during the 4th quarter valued at about $3,181,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.7%

SBUX opened at $93.19 on Friday. The stock’s fifty day moving average is $89.95 and its two-hundred day moving average is $94.54. The company has a market capitalization of $105.90 billion, a P/E ratio of 33.76, a PEG ratio of 4.74 and a beta of 1.02. Starbucks Corporation has a 52 week low of $72.73 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 2.62%. The ex-dividend date is Friday, August 15th. Starbucks’s dividend payout ratio is currently 88.41%.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Citigroup reaffirmed a “neutral” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Monday. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average target price of $98.85.

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.