Members Trust Co Grows Stock Holdings in Starbucks Corporation $SBUX

Key Points

• Members Trust Co increased its stake in Starbucks by 72.4% in the second quarter, owning nearly 12,000 shares valued at over $1 million.
• Starbucks declared a quarterly dividend of $0.62 per share, with a dividend yield of 2.9%, marking an increase from its previous dividend of $0.61.
• The company's recent earnings report revealed an EPS of $0.50, missing expectations, but revenue of $9.46 billion surpassed analyst estimates.

Members Trust Co lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 72.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,991 shares of the coffee company's stock after purchasing an additional 5,037 shares during the period. Members Trust Co's holdings in Starbucks were worth $1,099,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares during the last quarter. Nuveen LLC purchased a new stake in Starbucks in the first quarter valued at $1,379,619,000. Goldman Sachs Group Inc. lifted its position in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in Starbucks in the first quarter valued at $817,759,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $85.90 on Wednesday. The company has a 50-day simple moving average of $85.42 and a 200-day simple moving average of $87.40. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market capitalization of $97.64 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 4.24 and a beta of 1.01.

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

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Barclays boosted their price target on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $102.60.

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.

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