Perennial Advisors LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Perennial Advisors LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.4% in the first quarter, Holdings Channel reports. The institutional investor owned 52,998 shares of the coffee company’s stock after buying an additional 1,735 shares during the quarter. Perennial Advisors LLC’s holdings in Starbucks were worth $5,199,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the fourth quarter valued at $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter worth $26,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter worth $27,000. Finally, Marshall Investment Management LLC bought a new stake in shares of Starbucks in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 3.0%

Shares of Starbucks stock opened at $89.64 on Friday. The stock’s 50-day simple moving average is $84.45 and its 200-day simple moving average is $95.17. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $101.87 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Starbucks’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.61 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.72%. Starbucks’s payout ratio is 88.41%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBUX. Barclays reduced their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. UBS Group reduced their target price on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. TD Securities reissued a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Finally, BMO Capital Markets reduced their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $97.92.

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.