Starbucks Corporation $SBUX Shares Acquired by Invesco Ltd.

Invesco Ltd. grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 11.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,757,954 shares of the coffee company’s stock after buying an additional 1,286,451 shares during the period. Invesco Ltd.’s holdings in Starbucks were worth $1,169,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBUX. Vanguard Group Inc. raised its position in shares of Starbucks by 0.7% in the second quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock worth $10,341,511,000 after acquiring an additional 802,053 shares during the period. Geode Capital Management LLC grew its position in shares of Starbucks by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock valued at $2,357,815,000 after acquiring an additional 99,983 shares during the period. Wellington Management Group LLP increased its stake in shares of Starbucks by 22.3% in the 1st 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 Starbucks in the 1st quarter worth about $1,379,619,000. Finally, Norges Bank purchased a new position in Starbucks during the second quarter worth approximately $1,246,316,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBUX. Loop Capital set a $165.00 price objective on Starbucks in a research report on Tuesday, August 12th. Barclays dropped their price target on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, BTIG Research reissued a “buy” rating and set a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Trading Up 0.3%

SBUX opened at $85.20 on Wednesday. The firm’s 50-day moving average price is $84.04 and its 200 day moving average price is $87.70. The firm has a market capitalization of $96.88 billion, a PE ratio of 51.95, a PEG ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.62 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s payout ratio is currently 151.22%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

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.