Starbucks Corporation (NASDAQ:SBUX) Shares Acquired by William Allan Corp

William Allan Corp boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 0.6% during the first quarter, HoldingsChannel reports. The fund owned 63,392 shares of the coffee company’s stock after buying an additional 405 shares during the period. Starbucks comprises 3.9% of William Allan Corp’s holdings, making the stock its 7th biggest position. William Allan Corp’s holdings in Starbucks were worth $6,218,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the fourth quarter valued at $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the 1st quarter worth about $27,000. Graney & King LLC purchased a new stake in Starbucks in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the fourth quarter valued at about $27,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Starbucks in the fourth quarter valued at about $32,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.7%

Shares of SBUX stock opened at $93.80 on Monday. The company has a market cap of $106.59 billion, a P/E ratio of 33.99, a PEG ratio of 4.76 and a beta of 1.02. The firm has a fifty day moving average price of $90.22 and a 200 day moving average price of $94.60. Starbucks Corporation has a 12 month low of $72.73 and a 12 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 (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is 88.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBUX shares. UBS Group dropped their price target on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Guggenheim decreased their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Citigroup reaffirmed a “neutral” rating and issued a $100.00 price objective (up from $95.00) on shares of Starbucks in a research note on Monday, July 14th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $98.58.

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.