11,763 Shares in Starbucks Corporation $SBUX Acquired by Okabena Investment Services Inc.

Key Points

• Okabena Investment Services Inc. has made a new investment of $1.15 million in Starbucks, acquiring 11,763 shares of the coffee company.
• Starbucks reported quarterly earnings missing consensus estimates for EPS, with a recorded net revenue of $9.46 billion, surpassing analysts’ expectations of $9.29 billion.
• The company also announced a quarterly dividend of $0.61, reflecting a dividend yield of 2.8% and a payout ratio of 105.17%.

Okabena Investment Services Inc. bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,763 shares of the coffee company's stock, valued at approximately $1,154,000.

Other large investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the first quarter valued at about $27,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth about $29,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks during the 4th quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in shares of Starbucks during the 4th quarter worth about $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 0.2%

SBUX stock traded up $0.17 during mid-day trading on Friday, hitting $88.19. The stock had a trading volume of 6,312,155 shares, compared to its average volume of 8,713,048. The firm has a fifty day simple moving average of $91.96 and a 200 day simple moving average of $92.56. The firm has a market capitalization of $100.25 billion, a P/E ratio of 38.01, a P/E/G ratio of 5.23 and a beta of 1.02. 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 issued its quarterly 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). The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. As a group, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Evercore ISI restated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Citigroup reduced their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Morgan Stanley reaffirmed an "overweight" rating and issued a $103.00 price objective (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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.