3,126 Shares in Starbucks Corporation $SBUX Acquired by PUREfi Wealth LLC

Key Points

• PUREfi Wealth LLC acquired 3,126 shares of Starbucks Corporation, valued at approximately $286,000, marking a new investment position in the coffee company.
• Starbucks recently reported a quarterly EPS of $0.50, missing estimates of $0.64, despite revenue exceeding expectations at $9.46 billion.
• The company announced an increase in its quarterly dividend to $0.62 per share, which will be paid on November 28th, reflecting a dividend yield of 2.9%.

PUREfi Wealth LLC bought a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,126 shares of the coffee company's stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Nuveen LLC bought a new position in Starbucks in the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC bought a new position in Starbucks in the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC bought a new position in Starbucks in the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. boosted its stake in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SBUX. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. TD Cowen restated a "hold" rating and set a $95.00 price target on shares of Starbucks in a report on Thursday, September 25th. Zacks Research upgraded Starbucks from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 1st. Citigroup reduced their target price on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Bank of America raised their price target on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and an average price target of $104.00.

Starbucks Stock Down 0.3%

Shares of NASDAQ:SBUX opened at $86.42 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01. The business has a 50-day moving average price of $87.56 and a 200-day moving average price of $88.46.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Starbucks 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.

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