WealthShield Partners LLC Purchases 1,039 Shares of Starbucks Corporation (NASDAQ:SBUX)

WealthShield Partners LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 33.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,104 shares of the coffee company’s stock after purchasing an additional 1,039 shares during the quarter. WealthShield Partners LLC’s holdings in Starbucks were worth $403,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter valued at $29,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks during the 4th quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of Starbucks in the 4th quarter worth about $41,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Citigroup dropped their price objective on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Cowen reiterated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, TD Cowen lifted their price objective on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.27.

Starbucks Trading Down 1.3%

Shares of NASDAQ SBUX opened at $88.99 on Thursday. The business has a 50-day moving average of $91.96 and a 200-day moving average of $94.48. The firm has a market capitalization of $101.15 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 5.14 and a beta of 1.02. Starbucks Corporation has a 12 month low of $74.75 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its 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 company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.