Quarry LP Acquires 734 Shares of Starbucks Corporation $SBUX

Quarry LP lifted its position in Starbucks Corporation (NASDAQ:SBUX) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,618 shares of the coffee company’s stock after purchasing an additional 734 shares during the period. Quarry LP’s holdings in Starbucks were worth $551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the first quarter worth approximately $27,000. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the first quarter worth approximately $29,000. Activest Wealth Management grew its holdings in shares of Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of Starbucks in the fourth quarter worth approximately $41,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.2%

Shares of Starbucks stock opened at $88.19 on Friday. The firm has a market capitalization of $100.25 billion, a P/E ratio of 38.01, a P/E/G ratio of 5.23 and a beta of 1.02. The business has a fifty day simple moving average of $91.96 and a two-hundred day simple moving average of $92.56. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. Analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.8%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. UBS Group lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. TD Securities reiterated a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

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.