Bwcp LP Invests $20.15 Million in Starbucks Corporation $SBUX

Key Points

• Bwcp LP purchased 205,442 shares of Starbucks Corporation for approximately $20.15 million, making it 4.1% of their investment portfolio and the 10th largest holding.
• Starbucks reported earnings of $0.50 per share, missing estimates by $0.14, while revenue increased by 3.8% year-over-year, totaling $9.46 billion for the quarter.
• Starbucks recently declared a quarterly dividend of $0.61 per share, resulting in an annualized dividend of $2.44 and a dividend yield of 2.7%.

Bwcp LP acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 205,442 shares of the coffee company's stock, valued at approximately $20,152,000. Starbucks accounts for about 4.1% of Bwcp LP's investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Nuveen LLC bought a new position in shares of Starbucks during the 1st quarter worth about $1,379,619,000. Jennison Associates LLC bought a new position in shares of Starbucks during the 1st quarter worth about $817,759,000. Polen Capital Management LLC acquired a new stake in shares of Starbucks during the 1st quarter valued at about $503,539,000. Goldman Sachs Group Inc. boosted its position in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Starbucks by 22.3% during 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 acquiring an additional 3,545,655 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price 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. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an "overweight" rating in a research report on Wednesday, July 30th. TD Securities reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Bank of America lifted their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Stock Down 1.8%

NASDAQ:SBUX traded down $1.58 on Friday, reaching $85.43. The stock had a trading volume of 9,037,892 shares, compared to its average volume of 7,728,275. The company has a market capitalization of $97.11 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 5.18 and a beta of 1.00. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a fifty day moving average price of $91.54 and a 200-day moving average price of $91.83.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. Starbucks's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Starbucks Company 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.