Cornerstone Advisory LLC Acquires 411 Shares of Starbucks Corporation (NASDAQ:SBUX)

Cornerstone Advisory LLC increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,516 shares of the coffee company’s stock after buying an additional 411 shares during the quarter. Cornerstone Advisory LLC’s holdings in Starbucks were worth $345,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bedel Financial Consulting Inc. boosted its holdings in shares of Starbucks by 3.6% in the first quarter. Bedel Financial Consulting Inc. now owns 6,440 shares of the coffee company’s stock worth $632,000 after buying an additional 226 shares during the last quarter. Accretive Wealth Partners LLC grew its stake in shares of Starbucks by 18.1% during the 1st quarter. Accretive Wealth Partners LLC now owns 18,196 shares of the coffee company’s stock valued at $1,785,000 after acquiring an additional 2,795 shares during the period. Empirical Finance LLC grew its stake in shares of Starbucks by 1.5% during the 1st quarter. Empirical Finance LLC now owns 39,742 shares of the coffee company’s stock valued at $3,898,000 after acquiring an additional 573 shares during the period. Allen Investment Management LLC grew its stake in shares of Starbucks by 47.4% during the 1st quarter. Allen Investment Management LLC now owns 2,426,879 shares of the coffee company’s stock valued at $238,053,000 after acquiring an additional 780,658 shares during the period. Finally, Allium Financial Advisors LLC bought a new position in shares of Starbucks during the 1st quarter valued at approximately $229,000. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Royal Bank Of Canada upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. Robert W. Baird restated a “neutral” rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. UBS Group restated a “neutral” rating on shares of Starbucks in a research note on Monday, July 21st. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.58.

Starbucks Stock Up 0.8%

Starbucks stock opened at $94.42 on Monday. The firm has a market cap of $107.30 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth 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 business’s 50-day moving average price is $91.05 and its 200 day moving average price is $94.66.

Starbucks (NASDAQ:SBUX) last posted its 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 negative return on equity of 42.14% and a net margin of 8.61%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 2.58%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is 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.