Starbucks Corporation $SBUX Stock Holdings Increased by Mount Vernon Associates Inc. MD

Mount Vernon Associates Inc. MD boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 1.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,157 shares of the coffee company’s stock after buying an additional 225 shares during the period. Starbucks accounts for approximately 1.5% of Mount Vernon Associates Inc. MD’s holdings, making the stock its 21st biggest holding. Mount Vernon Associates Inc. MD’s holdings in Starbucks were worth $2,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $1,379,619,000. Jennison Associates LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $503,539,000. Goldman Sachs Group Inc. grew its holdings in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.3%

Shares of NASDAQ:SBUX opened at $86.42 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The business has a fifty day simple moving average of $87.56 and a 200 day simple moving average of $88.53. The firm has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. Starbucks’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analyst Ratings Changes

Several research firms have recently commented on SBUX. Citigroup lowered their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. TD Securities reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Piper Sandler set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Company 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.