Starbucks Corporation (NASDAQ:SBUX) Stake Boosted by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. increased its stake in Starbucks Corporation by 7.9%, acquiring an additional 58,064 shares, bringing their total holdings to 796,031 shares valued at approximately $78 million.
• Starbucks recently declared a quarterly dividend of $0.61 per share, representing an annualized payout of $2.44 and a dividend yield of 2.58%.
• Despite a year-over-year revenue increase of 2.3%, Starbucks reported a quarterly earnings per share of $0.41, missing the analyst consensus estimate of $0.51.

Baillie Gifford & Co. grew its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 796,031 shares of the coffee company's stock after acquiring an additional 58,064 shares during the quarter. Baillie Gifford & Co. owned about 0.07% of Starbucks worth $78,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Management Group Inc. purchased a new position in Starbucks during the 1st quarter worth $204,000. Neo Ivy Capital Management purchased a new stake in Starbucks during the 1st quarter valued at about $2,102,000. Assetmark Inc. grew its stake in Starbucks by 8.7% during the 1st quarter. Assetmark Inc. now owns 195,160 shares of the coffee company's stock valued at $19,143,000 after purchasing an additional 15,688 shares during the last quarter. Cetera Investment Advisers grew its stake in Starbucks by 3.4% during the 1st quarter. Cetera Investment Advisers now owns 514,334 shares of the coffee company's stock valued at $50,451,000 after purchasing an additional 17,127 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in Starbucks by 6.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 85,173 shares of the coffee company's stock valued at $8,355,000 after purchasing an additional 5,038 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SBUX shares. Barclays decreased their price objective on Starbucks from $108.00 to $106.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Wells Fargo & Company boosted their price objective on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday. Cowen reaffirmed a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, TD Cowen boosted their price objective on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $100.12.

Starbucks Trading Up 0.2%

Shares of SBUX traded up $0.14 during midday trading on Wednesday, reaching $93.10. 25,126,841 shares of the company were exchanged, compared to its average volume of 10,443,914. The stock has a 50-day moving average price of $91.38 and a 200-day moving average price of $94.66. The company has a market cap of $105.80 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 6.48 and a beta of 1.02. Starbucks Corporation has a 1-year low of $72.72 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The company's revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 yield of 2.62%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is currently 88.41%.

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.