Empower Advisory Group LLC Increases Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Empower Advisory Group LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,391,632 shares of the coffee company’s stock after acquiring an additional 18,654 shares during the quarter. Empower Advisory Group LLC’s holdings in Starbucks were worth $136,505,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the first quarter valued at approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $32,000. Ball & Co Wealth Management Inc. bought a new position in Starbucks during the fourth quarter valued at approximately $41,000. Finally, Accredited Wealth Management LLC purchased a new stake in Starbucks in the fourth quarter worth approximately $44,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX opened at $89.78 on Tuesday. The stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 4.95 and a beta of 1.02. The company has a fifty day moving average of $91.83 and a 200 day moving average of $94.55. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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 company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. On average, equities research analysts forecast 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 will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.7%. Starbucks’s payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. Cowen reiterated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Piper Sandler set a $105.00 price objective on Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada raised their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Wall Street Zen lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus price target of $101.27.

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.