1248 Management LLC Purchases Shares of 558 Starbucks Corporation $SBUX

1248 Management LLC purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 558 shares of the coffee company’s stock, valued at approximately $55,000.

A number of other institutional investors have also recently made changes to their positions in the stock. eCIO Inc. bought a new stake in shares of Starbucks in the 1st quarter valued at about $174,000. Cim LLC grew its position in shares of Starbucks by 8.2% in the 1st quarter. Cim LLC now owns 3,949 shares of the coffee company’s stock valued at $387,000 after buying an additional 300 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position 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 valued at $28,000 after buying an additional 159 shares during the last quarter. Modern Wealth Management LLC grew its position in shares of Starbucks by 27.2% in the 1st quarter. Modern Wealth Management LLC now owns 9,860 shares of the coffee company’s stock valued at $967,000 after buying an additional 2,110 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its position in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after buying an additional 234 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBUX. UBS Group lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. TD Securities reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Evercore ISI reissued an “outperform” rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Cowen reissued a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company boosted their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Stock Down 0.6%

Shares of NASDAQ:SBUX opened at $82.36 on Friday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s 50 day moving average is $90.70 and its 200-day moving average is $91.02. The firm has a market capitalization of $93.62 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 4.93 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 15th. Starbucks’s dividend payout ratio is currently 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.