Polen Capital Management LLC Purchases Shares of 5,133,440 Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Polen Capital Management LLC has acquired 5,133,440 shares of Starbucks (NASDAQ:SBUX), valued at approximately $503 million, making it 24th in their list of holdings.
• Starbucks announced a quarterly dividend of $0.61 per share, with a 2.6% yield, to be distributed on August 29th.
• The stock has an average target price of $101.27 and is rated as "Hold," with diverse analyst opinions including several "buy" and "sell" ratings.

Polen Capital Management LLC purchased a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,133,440 shares of the coffee company's stock, valued at approximately $503,539,000. Starbucks makes up 1.6% of Polen Capital Management LLC's holdings, making the stock its 24th largest holding. Polen Capital Management LLC owned 0.45% of Starbucks as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the fourth quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks during the first quarter worth approximately $27,000. McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter worth approximately $29,000. Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks during the fourth quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Starbucks during the fourth quarter worth approximately $41,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 target price on the stock. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stifel Nicolaus increased their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 11th. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley restated 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. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $101.27.

Starbucks Stock Up 1.2%

Shares of SBUX stock opened at $92.12 on Friday. The firm has a fifty day moving average of $92.27 and a 200-day moving average of $94.39. Starbucks Corporation has a 12-month low of $74.75 and a 12-month high of $117.46. The company has a market capitalization of $104.71 billion, a price-to-earnings ratio of 39.71, a P/E/G ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the company earned $0.93 EPS. The firm's revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.6%. Starbucks's dividend payout ratio (DPR) is 105.17%.

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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