Fox Run Management L.L.C. Purchases New Position in Starbucks Corporation $SBUX

Key Points

• Fox Run Management L.L.C. has acquired a new position in Starbucks Corporation by purchasing 10,177 shares valued at approximately $998,000.
• Several analysts have adjusted their price targets for Starbucks, with Barclays raising it from $106 to $115 and Bank of America increasing it from $101 to $110, indicating positive expectations for the stock.
• Starbucks recently declared a quarterly dividend of $0.61 per share, representing an annualized dividend of $2.44 and a dividend yield of 2.7%.

Fox Run Management L.L.C. bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 10,177 shares of the coffee company's stock, valued at approximately $998,000.

Several other large investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks in the 4th quarter valued at about $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. bought a new position in Starbucks in the 1st quarter valued at about $29,000. Kapitalo Investimentos Ltda bought a new position in Starbucks in the 4th quarter valued at about $32,000. Finally, GKV Capital Management Co. Inc. bought a new position in Starbucks in the 1st quarter valued at about $42,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBUX. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and raised their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citigroup dropped their target price on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Loop Capital set a $165.00 target price on shares of Starbucks in a research report on Tuesday, August 12th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and a consensus target price of $103.65.

Starbucks Stock Up 2.1%

Shares of NASDAQ SBUX traded up $1.94 during mid-day trading on Monday, reaching $92.54. 7,373,523 shares of the company were exchanged, compared to its average volume of 12,063,601. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market capitalization of $105.19 billion, a PE ratio of 39.89, a PEG ratio of 5.32 and a beta of 1.02. The company's 50 day moving average price is $92.83 and its 200 day moving average price is $93.88.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during 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 business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is 105.17%.

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.