eCIO Inc. Makes New Investment in Starbucks Corporation $SBUX

eCIO Inc. bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,778 shares of the coffee company’s stock, valued at approximately $174,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC boosted its holdings in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 89 shares during the period. Benin Management CORP boosted its stake in shares of Starbucks by 0.7% during the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after purchasing an additional 120 shares during the period. Ted Buchan & Co boosted its stake in shares of Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the period. Alexander Labrunerie & CO. Inc. grew its holdings in shares of Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the last quarter. Finally, Private Wealth Management Group LLC increased its stake in Starbucks by 13.3% in the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock worth $104,000 after buying an additional 124 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $82.36 on Friday. The company’s 50-day simple moving average is $90.70 and its 200-day simple moving average is $91.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $93.62 billion, a P/E ratio of 35.50, a P/E/G ratio of 4.93 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm 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 36.23% and a net margin of 7.18%.The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.61 dividend. 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 (DPR) is presently 105.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SBUX shares. Stifel Nicolaus boosted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. UBS Group lifted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Finally, Piper Sandler set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

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.