Starbucks Corporation (NASDAQ:SBUX) Shares Acquired by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co increased its holdings in Starbucks by 7.0%, now owning 91,056 shares worth approximately $8.93 million.
• Starbucks recently reported a quarterly earnings miss with $0.50 EPS, falling short of the $0.64 estimate, although revenue increased by 3.8% year-over-year.
• The company declared a quarterly dividend of $0.61 per share, with a dividend yield of 2.7%, set to be distributed on August 29th.

Fayez Sarofim & Co grew its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,056 shares of the coffee company's stock after buying an additional 5,991 shares during the quarter. Fayez Sarofim & Co's holdings in Starbucks were worth $8,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SBUX. Vanguard Capital Wealth Advisors acquired a new position in shares of Starbucks during the 4th quarter worth about $285,000. Czech National Bank boosted its position in shares of Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC boosted its position in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after acquiring an additional 5,151 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Starbucks by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock valued at $45,489,000 after purchasing an additional 3,130 shares during the period. Finally, Norden Group LLC boosted its position in shares of Starbucks by 66.1% in the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock valued at $2,964,000 after purchasing an additional 12,027 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock opened at $88.99 on Thursday. The stock has a fifty day moving average of $91.96 and a two-hundred day moving average of $94.48. The company has a market capitalization of $101.15 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 5.14 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $74.75 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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 business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.7%. Starbucks's dividend payout ratio (DPR) is 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Citigroup decreased their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. TD Cowen increased their target price on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Cowen reissued a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company increased their target price on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Four 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $101.27.

About Starbucks

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.