Empower Advisory Group LLC Purchases 18,654 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Empower Advisory Group LLC increased its holdings in Starbucks Corporation by 1.4%, now owning approximately 1.39 million shares valued at $136.5 million.
• Starbucks recently reported a quarterly EPS of $0.50, missing analysts' estimates, but its revenue for the quarter was $9.46 billion, exceeding expectations.
• The company declared a quarterly dividend of $0.61 per share, representing an annualized yield of 2.7%, with a payout ratio currently at 105.17%.

Empower Advisory Group LLC grew its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,391,632 shares of the coffee company's stock after purchasing an additional 18,654 shares during the period. Empower Advisory Group LLC owned about 0.12% of Starbucks worth $136,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Vanguard Capital Wealth Advisors bought a new stake in Starbucks in the 4th quarter worth approximately $285,000. Czech National Bank grew its position in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after acquiring an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC raised its stake in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Starbucks by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after acquiring an additional 3,130 shares during the last quarter. Finally, Norden Group LLC lifted its holdings in shares of Starbucks by 66.1% in the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after acquiring an additional 12,027 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Finally, Stifel Nicolaus raised their price target on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $101.27.

Starbucks Stock Performance

SBUX stock opened at $89.78 on Tuesday. The firm has a market capitalization of $102.05 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 4.95 and a beta of 1.02. The firm has a 50 day moving average price of $91.83 and a 200-day moving average price of $94.55. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.7%. Starbucks's payout ratio 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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