Starbucks Co. (NASDAQ:SBUX) Stake Raised by Wesbanco Bank Inc.

Wesbanco Bank Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% in the first quarter, HoldingsChannel reports. The fund owned 135,410 shares of the coffee company’s stock after buying an additional 1,949 shares during the quarter. Wesbanco Bank Inc.’s holdings in Starbucks were worth $13,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Starbucks in the 4th quarter valued at approximately $1,244,812,000. Capital World Investors raised its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC raised its holdings in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Capital Research Global Investors boosted its position in Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Starbucks in the fourth quarter valued at about $284,283,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBUX shares. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Royal Bank of Canada lowered shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Stifel Nicolaus decreased their target price on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Citigroup cut their price target on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, TD Securities reiterated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average price target of $97.92.

Starbucks Stock Up 3.0%

Shares of SBUX stock opened at $89.64 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market cap of $101.87 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a 50 day moving average of $84.45 and a 200-day moving average of $95.14.

Starbucks (NASDAQ:SBUX) last released 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). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. Starbucks’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, May 16th. Starbucks’s dividend payout ratio is currently 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.