Northern Trust Corp Has $1.33 Billion Holdings in Starbucks Corporation $SBUX

Key Points

• Northern Trust Corp increased its stake in Starbucks Corporation by 0.0% during the first quarter, holding approximately 1.19% of the company with a total valuation of $1.33 billion.
• Starbucks reported earnings of $0.50 per share for its most recent quarter, missing analyst estimates of $0.64, although revenue of $9.46 billion exceeded expectations.
• A quarterly dividend of $0.61 per share has been declared, with an annualized dividend yield of 2.7%, reflecting a payout ratio of 105.17%.

Northern Trust Corp boosted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 0.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,578,956 shares of the coffee company's stock after purchasing an additional 5,619 shares during the quarter. Northern Trust Corp owned about 1.19% of Starbucks worth $1,331,960,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. XTX Topco Ltd acquired a new stake in Starbucks in the fourth quarter valued at approximately $581,000. Gamco Investors INC. ET AL grew its stake in shares of Starbucks by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after buying an additional 97 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Starbucks by 15.9% in the 4th quarter. First Trust Advisors LP now owns 840,382 shares of the coffee company's stock valued at $76,685,000 after acquiring an additional 115,133 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Starbucks by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,789,245 shares of the coffee company's stock worth $254,502,000 after purchasing an additional 99,839 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler set a $105.00 price target on Starbucks and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citigroup cut their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Cowen reiterated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. TD Securities restated a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Finally, Stifel Nicolaus increased 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. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of "Hold" and an average price target of $103.65.

Starbucks Stock Down 2.6%

SBUX opened at $90.60 on Monday. The company's 50-day moving average price is $92.80 and its two-hundred day moving average price is $93.99. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market cap of $102.99 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 5.32 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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). 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 for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is presently 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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