Russell Investments Group Ltd. Increases Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Russell Investments Group Ltd. increased its stake in Starbucks Corporation by 10.2%, owning a total of 741,779 shares valued at approximately $72.7 million as of the latest SEC filing.
• Starbucks recently declared a quarterly dividend of $0.61, with a yield of 2.6%, and a dividend payout ratio of 105.17%.
• Analysts have varied ratings on Starbucks, with updates to price targets including Royal Bank of Canada's increase from $100.00 to $110.00, while Citigroup reduced theirs from $100.00 to $99.00.

Russell Investments Group Ltd. boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 741,779 shares of the coffee company's stock after buying an additional 68,641 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Starbucks worth $72,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Federated Hermes Inc. increased its position in Starbucks by 6.2% in the 4th quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock valued at $486,000 after acquiring an additional 311 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Starbucks in the 4th quarter valued at about $728,000. CreativeOne Wealth LLC increased its position in Starbucks by 2.0% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock valued at $927,000 after acquiring an additional 196 shares during the period. Finally, Belpointe Asset Management LLC increased its position in Starbucks by 1.5% in the 4th quarter. Belpointe Asset Management LLC now owns 14,397 shares of the coffee company's stock valued at $1,362,000 after acquiring an additional 207 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Citigroup dropped their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $104.19.

Starbucks Stock Performance

NASDAQ:SBUX opened at $93.37 on Wednesday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The business's 50-day simple moving average is $92.53 and its 200 day simple moving average is $94.31. The stock has a market cap of $106.13 billion, a price-to-earnings ratio of 40.25, a price-to-earnings-growth ratio of 5.23 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The company's revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 15th. 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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