MBB Public Markets I LLC Buys New Position in Starbucks Corporation $SBUX

Key Points

• MBB Public Markets I LLC acquired a new stake in Starbucks Corporation, purchasing 3,314 shares valued at approximately $325,000 during the 1st quarter.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates by $0.14, but its revenue of $9.46 billion surpassed expectations.
• Several analysts upgraded their price targets for Starbucks, with Barclays increasing theirs from $106.00 to $115.00, resulting in a consensus rating of "Moderate Buy."

MBB Public Markets I LLC purchased 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 & Exchange Commission. The fund purchased 3,314 shares of the coffee company's stock, valued at approximately $325,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ascent Group LLC increased its holdings in shares of Starbucks by 62.1% during the first quarter. Ascent Group LLC now owns 20,013 shares of the coffee company's stock valued at $1,963,000 after acquiring an additional 7,670 shares in the last quarter. Vancity Investment Management Ltd purchased a new position in shares of Starbucks during the first quarter valued at approximately $615,000. Fred Alger Management LLC purchased a new position in shares of Starbucks during the first quarter valued at approximately $3,262,000. Ashton Thomas Private Wealth LLC boosted its position in shares of Starbucks by 9.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 68,292 shares of the coffee company's stock valued at $6,699,000 after buying an additional 6,028 shares during the last quarter. Finally, Stance Capital LLC boosted its position in shares of Starbucks by 147,921.4% during the first quarter. Stance Capital LLC now owns 41,446 shares of the coffee company's stock valued at $4,065,000 after buying an additional 41,418 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research analyst reports. Barclays boosted their price objective on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $115.00 price objective (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Price Performance

NASDAQ:SBUX opened at $84.17 on Tuesday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The business has a fifty day simple moving average of $91.39 and a two-hundred day simple moving average of $91.34. The company has a market capitalization of $95.68 billion, a P/E ratio of 36.28, a P/E/G ratio of 5.09 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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%. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. As a group, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.9%. 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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