Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Salvus Wealth Management LLC

Salvus Wealth Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 36.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 9,683 shares of the coffee company’s stock after buying an additional 2,589 shares during the quarter. Salvus Wealth Management LLC’s holdings in Starbucks were worth $950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the fourth quarter worth about $25,000. Graney & King LLC acquired a new stake in Starbucks in the 4th quarter valued at approximately $26,000. Collier Financial acquired a new stake in Starbucks in the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Stifel Nicolaus dropped their target price on 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 research note on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research note on Wednesday, April 9th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.92.

Starbucks Price Performance

Starbucks stock opened at $88.11 on Thursday. The business has a 50 day simple moving average of $84.85 and a 200-day simple moving average of $95.35. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market capitalization of $100.13 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s payout ratio is 88.41%.

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.