Avantax Advisory Services Inc. Increases Position in Starbucks Corporation (NASDAQ:SBUX)

Avantax Advisory Services Inc. lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 6.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 85,173 shares of the coffee company’s stock after acquiring an additional 5,038 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Starbucks were worth $8,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the 1st quarter worth approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of Starbucks in the 4th quarter worth approximately $32,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $41,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBUX shares. CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective on the stock. UBS Group reiterated a “neutral” rating on shares of Starbucks in a research note on Monday, July 21st. JPMorgan Chase & Co. dropped their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Guggenheim dropped their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus upped their price objective on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Four 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.58.

Starbucks Stock Performance

NASDAQ:SBUX opened at $94.42 on Friday. The firm has a market capitalization of $107.30 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 6.55 and a beta of 1.02. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The stock has a fifty day moving average of $91.05 and a 200 day moving average of $94.65.

Starbucks (NASDAQ:SBUX) last posted 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). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. Starbucks’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio is 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.