Morningstar Investment Management LLC Takes $653,000 Position in Starbucks Corporation $SBUX

Key Points

• Morningstar Investment Management LLC has acquired a new stake in Starbucks Corporation, purchasing 7,124 shares valued at approximately $653,000 during the second quarter.
• Starbucks announced a quarterly dividend increase to $0.62 per share, up from $0.61, with a scheduled payment date of November 28th, representing an annualized yield of 3.1%.
• The company reported earnings of $0.50 per share for its last quarter, missing estimates, despite a revenue increase to $9.46 billion compared to predictions of $9.29 billion.

Morningstar Investment Management LLC acquired a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,124 shares of the coffee company's stock, valued at approximately $653,000.

A number of other institutional investors also recently modified their holdings of SBUX. Brighton Jones LLC lifted 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 acquiring an additional 81,952 shares during the period. GAMMA Investing LLC lifted its position in shares of Starbucks by 21.9% during the 1st quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company's stock valued at $2,020,000 after acquiring an additional 3,703 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Starbucks by 5.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company's stock valued at $46,375,000 after acquiring an additional 25,809 shares during the period. Missouri Trust & Investment Co lifted its position in shares of Starbucks by 49.7% during the 1st quarter. Missouri Trust & Investment Co now owns 524 shares of the coffee company's stock valued at $51,000 after acquiring an additional 174 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Starbucks during the 1st quarter valued at $819,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

NASDAQ SBUX opened at $80.03 on Tuesday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market cap of $90.97 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.89 and a beta of 1.01. The company has a fifty day moving average price of $86.29 and a 200-day moving average price of $87.75.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. Starbucks's payout ratio is presently 105.17%.

Analyst Ratings Changes

A number of research firms recently issued reports on SBUX. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Evercore ISI restated an "outperform" rating and set a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Loop Capital set a $165.00 price target on shares of Starbucks in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Starbucks from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 1st. Finally, TD Cowen decreased their price target on shares of Starbucks from $88.00 to $84.00 and set a "hold" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.96.

About Starbucks

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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