Graypoint LLC Purchases 2,802 Shares of Starbucks Corporation (NASDAQ:SBUX)

Graypoint LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 36.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,510 shares of the coffee company’s stock after buying an additional 2,802 shares during the period. Graypoint LLC’s holdings in Starbucks were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks in the fourth quarter valued at about $285,000. Czech National Bank grew its position in shares of Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after purchasing an additional 15,132 shares during the period. Personal CFO Solutions LLC grew its position in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after purchasing an additional 5,151 shares during the period. Treasurer of the State of North Carolina boosted its position in Starbucks by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company’s stock worth $45,489,000 after acquiring an additional 3,130 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $93.19 on Friday. The company has a market capitalization of $105.90 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 4.74 and a beta of 1.02. Starbucks Corporation has a 1 year low of $72.73 and a 1 year high of $117.46. The company’s 50 day simple moving average is $89.95 and its 200 day simple moving average is $94.54.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.62%. Starbucks’s dividend payout ratio is presently 88.41%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBUX shares. TD Securities reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Stifel Nicolaus increased their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Cowen reiterated a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Barclays lowered their price objective on Starbucks from $108.00 to $106.00 and set an “overweight” rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.85.

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.