Wynn Capital LLC Purchases 509 Shares of Starbucks Co. (NASDAQ:SBUX)

Wynn Capital LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,661 shares of the coffee company’s stock after buying an additional 509 shares during the quarter. Wynn Capital LLC’s holdings in Starbucks were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Capital & Planning LLC raised its holdings in shares of Starbucks by 40.7% in the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after purchasing an additional 3,483 shares during the period. Brighton Jones LLC raised its holdings in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Starbucks by 3.5% in the 4th quarter. Bleakley Financial Group LLC now owns 16,549 shares of the coffee company’s stock worth $1,510,000 after purchasing an additional 552 shares during the period. Silver Oak Securities Incorporated raised its holdings in shares of Starbucks by 54.7% in the 4th quarter. Silver Oak Securities Incorporated now owns 4,509 shares of the coffee company’s stock worth $408,000 after purchasing an additional 1,594 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $62,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research reports. BMO Capital Markets lowered their price target on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Guggenheim lowered their price target on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus target price of $97.92.

Starbucks Price Performance

SBUX opened at $89.64 on Friday. The company has a fifty day moving average price of $84.45 and a 200-day moving average price of $95.17. The firm has a market capitalization of $101.87 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. On average, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.72%. Starbucks’s dividend payout ratio (DPR) is presently 88.41%.

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.