McClarren Financial Advisors Inc. Invests $29,000 in Starbucks Corporation (NASDAQ:SBUX)

McClarren Financial Advisors Inc. bought a new stake in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 299 shares of the coffee company’s stock, valued at approximately $29,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Starbucks in the first quarter worth about $817,759,000. Capital Research Global Investors boosted its holdings in Starbucks by 167.6% in 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 purchasing an additional 3,563,942 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Starbucks by 218.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company’s stock valued at $446,596,000 after purchasing an additional 3,124,533 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Starbucks by 629.5% during the 4th quarter. Toronto Dominion Bank now owns 3,190,114 shares of the coffee company’s stock worth $291,097,000 after purchasing an additional 2,752,809 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.5%

Shares of NASDAQ:SBUX opened at $90.20 on Wednesday. The company’s 50-day moving average price is $91.90 and its 200 day moving average price is $94.52. The company has a market cap of $102.53 billion, a PE ratio of 38.88, a P/E/G ratio of 5.12 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $73.84 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 annualized dividend and a dividend yield of 2.7%. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Starbucks from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. TD Cowen raised their price objective on shares of Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Guggenheim upped their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, Citigroup reduced their price target on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.27.

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.