Starbucks Corporation $SBUX Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,366 shares of the coffee company’s stock after purchasing an additional 678 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Starbucks were worth $1,213,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in Starbucks in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. acquired a new position in Starbucks in the 1st quarter worth about $29,000. Kapitalo Investimentos Ltda acquired a new position in Starbucks in the 4th quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 2.1%

SBUX stock opened at $92.54 on Tuesday. The business has a fifty day moving average of $92.83 and a two-hundred day moving average of $93.88. The stock has a market cap of $105.19 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

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

Starbucks Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.6%. Starbucks’s payout ratio is presently 105.17%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. TD Securities reiterated a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Barclays boosted their price objective on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. TD Cowen boosted their price objective on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $103.65.

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.