Elgethun Capital Management Has $109,000 Position in Starbucks Corporation (NASDAQ:SBUX)

Elgethun Capital Management reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 15.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,114 shares of the coffee company’s stock after selling 197 shares during the period. Elgethun Capital Management’s holdings in Starbucks were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SBUX. Evolution Wealth Advisors LLC raised its holdings in Starbucks by 13.7% in the 1st quarter. Evolution Wealth Advisors LLC now owns 3,020 shares of the coffee company’s stock valued at $296,000 after acquiring an additional 363 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Starbucks in the 1st quarter valued at $8,599,000. Citizens Financial Group Inc. RI increased its stake in shares of Starbucks by 6.7% in the 1st quarter. Citizens Financial Group Inc. RI now owns 31,447 shares of the coffee company’s stock valued at $3,085,000 after purchasing an additional 1,972 shares during the last quarter. WealthShield Partners LLC increased its stake in shares of Starbucks by 33.9% in the 1st quarter. WealthShield Partners LLC now owns 4,104 shares of the coffee company’s stock valued at $403,000 after purchasing an additional 1,039 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $88.99 on Thursday. The company has a market capitalization of $101.15 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 5.14 and a beta of 1.02. The business’s 50-day moving average is $91.96 and its 200-day moving average is $94.48. Starbucks Corporation has a 1 year low of $74.75 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research report on Thursday, July 17th. Evercore ISI restated an “outperform” rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. CICC Research initiated coverage on Starbucks in a research report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $101.27.

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.