Ilmarinen Mutual Pension Insurance Co Acquires 10,000 Shares of Starbucks Corporation $SBUX

Key Points

• Ilmarinen Mutual Pension Insurance Co has increased its stake in Starbucks by 4.7%, acquiring an additional 10,000 shares to bring its total ownership to 221,533 shares valued at approximately $21.73 million.
• Starbucks reported earnings per share of $0.50 for the last quarter, missing estimates by $0.14, despite revenue of $9.46 billion exceeding expectations.
• Analysts have various price targets for Starbucks, ranging from $90.00 to $165.00, with the current average target at $104.40 and a consensus rating of "Moderate Buy."

Ilmarinen Mutual Pension Insurance Co increased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 4.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 221,533 shares of the coffee company's stock after buying an additional 10,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Starbucks were worth $21,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth about $25,000. Hughes Financial Services LLC purchased a new stake in Starbucks during the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. purchased a new stake in Starbucks during the first quarter valued at approximately $29,000. Activest Wealth Management grew its stake in shares of Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock valued at $32,000 after buying an additional 145 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $41,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Citigroup lowered their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Trading Down 0.4%

Starbucks stock opened at $83.81 on Wednesday. The stock's fifty day simple moving average is $91.17 and its 200-day simple moving average is $91.29. The firm has a market capitalization of $95.27 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 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 prior year, the business earned $0.93 earnings per share. Starbucks's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 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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