Freedom Investment Management Inc. Takes $299,000 Position in Starbucks Corporation $SBUX

Key Points

• Freedom Investment Management Inc. has acquired a new stake in Starbucks Corporation, purchasing 3,045 shares valued at approximately $299,000 during the first quarter.
• Starbucks has announced a quarterly dividend of $0.61 per share, reflecting a dividend yield of 2.8% and a payout ratio of 105.17%.
• The stock has a market capitalization of $100.05 billion, and its shares have experienced a trading range with a 52-week low of $75.50 and a high of $117.46.

Freedom Investment Management Inc. acquired a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,045 shares of the coffee company's stock, valued at approximately $299,000.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter valued at $25,000. Hughes Financial Services LLC acquired a new position in Starbucks in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. acquired a new position in Starbucks in the 1st quarter valued at $29,000. Kapitalo Investimentos Ltda acquired a new position in Starbucks in the 4th quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks in the 4th quarter valued at $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 0.4%

Shares of NASDAQ SBUX opened at $88.02 on Friday. The stock has a market cap of $100.05 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 5.20 and a beta of 1.02. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company's 50-day moving average price is $92.06 and its 200 day moving average price is $92.86.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. As a group, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Analyst Ratings Changes

Several brokerages have issued reports on SBUX. Wells Fargo & Company boosted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and increased their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Bank of America boosted their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, July 18th. CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and an average price target of $104.40.

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.

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