AIA Group Ltd Has $10.94 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• AIA Group Ltd increased its stake in Starbucks by 22.9%, now owning 111,477 shares worth approximately $10.9 million.
• Starbucks reported Q2 earnings of $0.50 EPS, missing estimates by $0.14, while revenue of $9.46 billion exceeded expectations.
• The company announced a quarterly dividend of $0.61 to be paid on August 29th, representing an annualized yield of 2.6% with a payout ratio of 105.17%.

AIA Group Ltd grew its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,477 shares of the coffee company's stock after acquiring an additional 20,760 shares during the period. AIA Group Ltd's holdings in Starbucks were worth $10,935,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC raised its stake in shares of Starbucks by 2.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 52,840 shares of the coffee company's stock valued at $5,183,000 after acquiring an additional 1,215 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in Starbucks by 62.2% during the first quarter. Meridian Wealth Management LLC now owns 18,254 shares of the coffee company's stock valued at $1,791,000 after purchasing an additional 7,000 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Starbucks by 21.4% in the first quarter. Independent Advisor Alliance now owns 29,798 shares of the coffee company's stock valued at $2,923,000 after purchasing an additional 5,246 shares during the period. Cove Private Wealth LLC raised its position in shares of Starbucks by 19.0% in the first quarter. Cove Private Wealth LLC now owns 3,452 shares of the coffee company's stock valued at $339,000 after purchasing an additional 550 shares during the period. Finally, SouthState Corp lifted its stake in shares of Starbucks by 61.9% in the first quarter. SouthState Corp now owns 5,592 shares of the coffee company's stock worth $549,000 after buying an additional 2,137 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $104.19.

Starbucks Stock Performance

Shares of SBUX stock traded up $1.63 during trading hours on Tuesday, hitting $93.37. The company had a trading volume of 9,668,811 shares, compared to its average volume of 11,835,385. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm's fifty day moving average is $92.53 and its 200 day moving average is $94.31. The firm has a market capitalization of $106.13 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 5.23 and a beta of 1.02.

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

Starbucks Announces Dividend

The company 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. This represents a $2.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is currently 105.17%.

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.