Summit Investment Advisors Inc. Purchases 885 Shares of Starbucks Corporation $SBUX

Summit Investment Advisors Inc. raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,297 shares of the coffee company’s stock after buying an additional 885 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Starbucks were worth $4,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks during the second quarter worth about $25,000. Chelsea Counsel Co. bought a new stake in Starbucks during the second quarter valued at approximately $26,000. Hughes Financial Services LLC purchased a new position in Starbucks in the 1st quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter worth $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.57 on Friday. The stock’s 50-day moving average is $83.92 and its 200 day moving average is $87.46. The company has a market cap of $97.27 billion, a PE ratio of 52.18, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. Analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is currently 151.22%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. Mizuho raised Starbucks to a “hold” rating in a research note on Tuesday, October 28th. Citigroup decreased their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. UBS Group set a $94.00 price target on shares of Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday. Finally, Morgan Stanley set a $105.00 price target on shares of Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.50.

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.