Starbucks Corporation $SBUX Shares Bought by Blue Trust Inc.

Blue Trust Inc. boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,928 shares of the coffee company’s stock after acquiring an additional 672 shares during the quarter. Blue Trust Inc.’s holdings in Starbucks were worth $1,276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Starbucks by 22.3% in 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 in the last quarter. Nuveen LLC acquired a new position in shares of Starbucks in the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. grew its holdings in shares of Starbucks by 59.5% in 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 in the last quarter. Finally, Jennison Associates LLC purchased a new position in Starbucks in the 1st quarter valued at approximately $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ SBUX opened at $78.46 on Friday. The firm’s fifty day moving average price is $86.48 and its 200 day moving average price is $88.02. The company has a market capitalization of $89.19 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 3.93 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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 net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared 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. This represents a $2.48 annualized dividend and a yield of 3.2%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

Several brokerages have commented on SBUX. BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.56.

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.