E Fund Management Co. Ltd. Acquires 15,802 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• E Fund Management Co. Ltd. increased its stake in Starbucks Corporation by 97.1%, acquiring an additional 15,802 shares, bringing its total holdings to 32,081 shares worth approximately $3.15 million.
• Starbucks reported $0.50 earnings per share (EPS) for the latest quarter, missing analysts' expectations of $0.64, despite a revenue of $9.46 billion exceeding estimates.
• The company declared a quarterly dividend of $0.61 per share, with an annualized dividend yield of 2.6%, indicating a payout ratio of 105.17%.

E Fund Management Co. Ltd. lifted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 97.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 32,081 shares of the coffee company's stock after purchasing an additional 15,802 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Starbucks were worth $3,147,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Federated Hermes Inc. lifted its position in Starbucks by 6.2% during the 4th quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock valued at $486,000 after purchasing an additional 311 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Starbucks during the 4th quarter valued at about $728,000. CreativeOne Wealth LLC lifted its position in Starbucks by 2.0% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock valued at $927,000 after purchasing an additional 196 shares during the period. Finally, Belpointe Asset Management LLC lifted its position in Starbucks by 1.5% during the 4th quarter. Belpointe Asset Management LLC now owns 14,397 shares of the coffee company's stock valued at $1,362,000 after purchasing an additional 207 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $93.37 on Wednesday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market cap of $106.13 billion, a PE ratio of 40.25, a P/E/G ratio of 5.23 and a beta of 1.02. The stock has a fifty day moving average price of $92.53 and a 200-day moving average price of $94.31.

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 the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. Starbucks's dividend payout ratio is presently 105.17%.

Analyst Ratings Changes

A number of research firms have issued reports on SBUX. Evercore ISI restated an "outperform" rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and upped their target price for the company from $100.00 to $115.00 in a research report on Tuesday. Cowen restated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Wells Fargo & Company increased 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. Finally, TD Cowen increased their price target on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $104.19.

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.

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