Monetary Management Group Inc. Has $1.28 Million Position in Starbucks Corporation $SBUX

Monetary Management Group Inc. cut its position in Starbucks Corporation (NASDAQ:SBUX) by 7.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,050 shares of the coffee company’s stock after selling 1,000 shares during the quarter. Monetary Management Group Inc.’s holdings in Starbucks were worth $1,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in Starbucks during the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. acquired a new position in Starbucks during the 1st quarter worth approximately $29,000. Kapitalo Investimentos Ltda acquired a new position in Starbucks during the 4th quarter worth approximately $32,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Starbucks during the 1st quarter worth approximately $42,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $88.56 on Friday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a 50 day moving average price of $92.59 and a two-hundred day moving average price of $93.70. The stock has a market cap of $100.67 billion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 5.31 and a beta of 1.02.

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

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio is currently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Guggenheim upped their price objective on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Stifel Nicolaus upped their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.40.

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.