Geneos Wealth Management Inc. Lowers Holdings in Starbucks Corporation $SBUX

Geneos Wealth Management Inc. trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,340 shares of the coffee company’s stock after selling 795 shares during the period. Geneos Wealth Management Inc.’s holdings in Starbucks were worth $1,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the fourth quarter worth about $25,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks in the first quarter worth about $27,000. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks in the first quarter worth about $29,000. Activest Wealth Management increased 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 stake in shares of Starbucks in the fourth quarter worth about $41,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX opened at $82.36 on Friday. The stock has a market cap of $93.62 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 4.93 and a beta of 1.00. The stock’s 50 day moving average price is $90.70 and its 200-day moving average price is $91.02. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. As a group, analysts predict 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. Stockholders of record on Friday, August 15th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. Starbucks’s dividend payout ratio is currently 105.17%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 target price (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. TD Cowen boosted their price objective on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, UBS Group boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.