Kingstone Capital Partners Texas LLC Invests $68.60 Million in Starbucks Corporation $SBUX

Key Points

• Kingstone Capital Partners Texas LLC has invested approximately $68.6 million in Starbucks Corporation, acquiring about 727,845 shares during the second quarter.
• Starbucks recently reported earnings of $0.50 per share, missing analysts' estimates, despite a 3.8% year-over-year revenue increase to $9.46 billion.
• The company announced a quarterly dividend of $0.61, with an annualized yield of 2.9% and a payout ratio of 105.17%.

Kingstone Capital Partners Texas LLC purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 727,845 shares of the coffee company's stock, valued at approximately $68,595,000. Kingstone Capital Partners Texas LLC owned about 0.06% of Starbucks at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Twinbeech Capital LP bought a new stake in shares of Starbucks during the 4th quarter valued at $368,000. Focus Partners Advisor Solutions LLC raised its position in shares of Starbucks by 69.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 13,644 shares of the coffee company's stock valued at $1,245,000 after purchasing an additional 5,614 shares during the period. Connecticut Wealth Management LLC raised its position in shares of Starbucks by 3.2% during the 4th quarter. Connecticut Wealth Management LLC now owns 5,275 shares of the coffee company's stock valued at $481,000 after purchasing an additional 165 shares during the period. Finally, Vise Technologies Inc. raised its position in shares of Starbucks by 104.8% during the 4th quarter. Vise Technologies Inc. now owns 10,702 shares of the coffee company's stock valued at $977,000 after purchasing an additional 5,476 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $84.56 on Friday. The company has a market cap of $96.12 billion, a P/E ratio of 36.45, a P/E/G ratio of 4.98 and a beta of 1.00. The firm's fifty day moving average is $89.34 and its two-hundred day moving average is $89.74. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

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

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks's payout ratio is 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent analyst reports. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. TD Securities restated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. TD Cowen raised their price objective on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an "overweight" rating in a report on Wednesday, July 30th. One equities 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 assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

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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