9,309 Shares in Starbucks Corporation (NASDAQ:SBUX) Acquired by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd has acquired a stake in Starbucks Corporation, purchasing 9,309 shares valued at approximately $913,000 during the first quarter.
• Starbucks reported earnings per share (EPS) of $0.50 for the last quarter, missing estimates, while revenue increased by 3.8% compared to the previous year.
• The company recently announced a quarterly dividend of $0.61, contributing to an annualized dividend yield of 2.6%, despite a high dividend payout ratio of 105.17%.

S Bank Fund Management Ltd acquired a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 9,309 shares of the coffee company's stock, valued at approximately $913,000.

A number of other hedge funds have also recently bought and sold shares of SBUX. Nuveen LLC acquired a new stake in shares of Starbucks in the first quarter valued at about $1,379,619,000. Capital World Investors grew its position in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. Jennison Associates LLC acquired a new stake in Starbucks during the first quarter worth approximately $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks during the first quarter worth approximately $503,539,000. Finally, Goldman Sachs Group Inc. lifted its stake in Starbucks by 59.5% during the first 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 last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 1.8%

Shares of SBUX stock opened at $93.37 on Wednesday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm's 50 day moving average is $92.53 and its 200 day moving average is $94.31. The stock has a market capitalization of $106.13 billion, a P/E ratio of 40.25, a P/E/G ratio of 5.23 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results 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 company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the business posted $0.93 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.6%. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBUX. 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. Citigroup lowered their target price on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. BMO Capital Markets reissued an "outperform" rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $103.00 price objective (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $104.19.

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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