Jones Financial Companies Lllp Grows Position in Starbucks Corporation $SBUX

Key Points

• Jones Financial Companies Lllp increased its stake in Starbucks by 27.1%, acquiring an additional 87,874 shares, bringing its total holdings to 412,028 shares valued at approximately $40.3 million.
• Starbucks recently reported quarterly earnings of $0.50 per share, which fell short of analyst expectations of $0.64, although its revenue of $9.46 billion exceeded projections.
• The company declared a quarterly dividend of $0.61 per share, representing a total annualized dividend of $2.44 with a yield of 3.0%.

Jones Financial Companies Lllp increased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 27.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,028 shares of the coffee company's stock after acquiring an additional 87,874 shares during the quarter. Jones Financial Companies Lllp's holdings in Starbucks were worth $40,302,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after buying an additional 81,952 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Starbucks in the 4th quarter worth approximately $710,000. Strive Asset Management LLC acquired a new position in Starbucks in the 4th quarter worth approximately $284,000. Strategic Wealth Partners Ltd. increased its holdings in Starbucks by 30.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 116,797 shares of the coffee company's stock worth $10,658,000 after buying an additional 27,428 shares during the period. Finally, TrinityPoint Wealth LLC boosted its position in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on SBUX shares. Stifel Nicolaus upped their price objective on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Guggenheim upped their price objective on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Barclays increased their target price on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. CICC Research started coverage on Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 target price on the stock. Finally, TD Securities reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. One 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. Based on data from MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and an average target price of $104.40.

Starbucks Price Performance

NASDAQ SBUX opened at $81.90 on Monday. The company has a market cap of $93.10 billion, a P/E ratio of 35.30, a P/E/G ratio of 4.89 and a beta of 1.00. The stock has a 50-day moving average of $90.45 and a two-hundred day moving average of $90.47. Starbucks Corporation has a 1-year low of $75.50 and a 1-year 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 the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. On average, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 3.0%. Starbucks's payout ratio 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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