Phoenix Financial Ltd. Buys Shares of 7,140 Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Phoenix Financial Ltd. has acquired a new stake in Starbucks Corporation, purchasing 7,140 shares valued at approximately $704,000 during the first quarter.
• Starbucks recently reported quarterly earnings of $0.41 per share, which missed the consensus estimate of $0.51, alongside revenues of $8.76 billion for the quarter.
• The company announced a quarterly dividend of $0.61 per share, with an annual yield of 2.58%, to be paid on August 29th to shareholders of record on August 15th.

Phoenix Financial Ltd. purchased a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,140 shares of the coffee company's stock, valued at approximately $704,000.

A number of other institutional investors have also bought and sold shares of SBUX. Capital World Investors raised its stake in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. Jennison Associates LLC bought a new position in Starbucks in the first quarter worth approximately $817,759,000. FMR LLC raised its stake in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Capital Research Global Investors raised its stake in Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after buying an additional 3,563,942 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Starbucks by 218.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company's stock worth $446,596,000 after buying an additional 3,124,533 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX traded up $1.11 on Wednesday, hitting $94.07. 28,318,380 shares of the company were exchanged, compared to its average volume of 10,470,245. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The firm has a market capitalization of $106.90 billion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 6.48 and a beta of 1.02. The business's fifty day moving average is $91.38 and its 200 day moving average is $94.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.59%. Starbucks's dividend payout ratio (DPR) is 88.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SBUX shares. Citigroup reissued a "neutral" rating and set a $100.00 price objective (up from $95.00) on shares of Starbucks in a report on Monday, July 14th. TD Cowen increased their price objective on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, UBS Group increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $100.12.

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.