3,450 Shares in Starbucks Corporation (NASDAQ:SBUX) Acquired by Investment Counsel Co. of Nevada

Key Points

• Investment Counsel Co. of Nevada has acquired a new stake in Starbucks, purchasing 3,450 shares valued at approximately $338,000, making it the fund's 26th largest holding.
• Recent reports indicate that institutional investors have significantly increased their positions in Starbucks, with holdings collectively comprising 72.29% of the company's stock.
• Starbucks recently declared a quarterly dividend of $0.61 per share, representing an annualized yield of 2.7%, although its payout ratio is notably high at 105.17%.

Investment Counsel Co. of Nevada acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,450 shares of the coffee company's stock, valued at approximately $338,000. Starbucks makes up about 0.8% of Investment Counsel Co. of Nevada's investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its holdings in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. Northern Trust Corp grew its holdings in Starbucks by 4.6% during the 4th quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock valued at $1,238,567,000 after buying an additional 600,151 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Starbucks by 9.0% in the 4th quarter. Invesco Ltd. now owns 11,457,981 shares of the coffee company's stock valued at $1,045,541,000 after purchasing an additional 944,897 shares during the last quarter. Capital International Investors lifted its stake in shares of Starbucks by 2.7% in the 4th quarter. Capital International Investors now owns 10,191,918 shares of the coffee company's stock valued at $929,898,000 after purchasing an additional 267,736 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks in the 1st quarter valued at approximately $817,759,000. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX stock traded up $2.03 during mid-day trading on Thursday, hitting $91.02. The company had a trading volume of 9,888,895 shares, compared to its average volume of 11,429,022. The stock's 50 day moving average price is $92.10 and its 200-day moving average price is $94.45. Starbucks Corporation has a 52-week low of $74.75 and a 52-week high of $117.46. The company has a market capitalization of $103.46 billion, a P/E ratio of 39.23, a P/E/G ratio of 5.07 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SBUX shares. Citigroup decreased their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Robert W. Baird boosted their target price on Starbucks from $88.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 17th. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, TD Securities reiterated a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of "Hold" and a consensus target price of $101.27.

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.