Starbucks Corporation (NASDAQ:SBUX) Stock Position Raised by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 21,778 shares of the coffee company’s stock after purchasing an additional 643 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Starbucks were worth $2,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of SBUX. Capital World Investors boosted its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. Jennison Associates LLC acquired a new position in shares of Starbucks during the first quarter valued at $817,759,000. FMR LLC boosted its holdings in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Capital Research Global Investors boosted its holdings in shares of Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after acquiring an additional 3,563,942 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Starbucks by 218.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company’s stock valued at $446,596,000 after acquiring an additional 3,124,533 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $92.76 on Thursday. The stock has a 50 day simple moving average of $91.57 and a 200 day simple moving average of $94.65. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The firm has a market capitalization of $105.41 billion, a PE ratio of 39.98, a P/E/G ratio of 6.43 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 36.43% and a net margin of 7.18%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is currently 88.41%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SBUX shares. Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. TD Securities reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, Stifel Nicolaus upped their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $101.00.

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.