Hayek Kallen Investment Management Boosts Holdings in Starbucks Corporation $SBUX

Hayek Kallen Investment Management lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,468 shares of the coffee company’s stock after buying an additional 557 shares during the quarter. Hayek Kallen Investment Management’s holdings in Starbucks were worth $1,321,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks in the 4th quarter worth about $285,000. Napa Wealth Management bought a new stake in Starbucks in the 1st quarter worth about $1,435,000. Czech National Bank increased its holdings in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock worth $25,591,000 after buying an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after buying an additional 5,151 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Starbucks in the 1st quarter worth about $998,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.2%

SBUX stock opened at $88.19 on Friday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market cap of $100.25 billion, a P/E ratio of 38.01, a PEG ratio of 5.22 and a beta of 1.02. The business’s 50-day moving average price is $91.96 and its 200-day moving average price is $92.70.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.8%. Starbucks’s payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Barclays lifted their price objective on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. CICC Research assumed coverage on Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Loop Capital set a $165.00 price target on Starbucks in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

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.