Rathbones Group PLC Raises Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Rathbones Group PLC increased its stake in Starbucks Corporation by 16% in Q1, now holding 36,493 shares worth approximately $3.58 million.
• Starbucks reported a miss in earnings per share (EPS) for its most recent quarter, with $0.50 EPS compared to the expected $0.64, despite revenue exceeding estimates.
• The company announced a quarterly dividend of $0.61, reflecting an annualized yield of 2.6%, with a payout ratio of 105.17%.

Rathbones Group PLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,493 shares of the coffee company's stock after buying an additional 5,039 shares during the period. Rathbones Group PLC's holdings in Starbucks were worth $3,580,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research analyst reports. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday. Citigroup dropped their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Guggenheim raised their price target on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Bank of America raised their price target on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $104.19.

Starbucks Trading Up 1.8%

Shares of Starbucks stock opened at $93.37 on Wednesday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market capitalization of $106.13 billion, a P/E ratio of 40.25, a PEG ratio of 5.23 and a beta of 1.02. The business's fifty day moving average price is $92.53 and its 200 day moving average price is $94.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the business posted $0.93 EPS. Starbucks's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date 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 presently 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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