University of Texas Texas AM Investment Management Co. Has $966,000 Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• The University of Texas Texas AM Investment Management Co. significantly increased its stake in Starbucks by 3,535.4%, becoming a notable shareholder with 9,852 shares worth approximately $966,000.
• Starbucks reported quarterly earnings of $0.41 per share, missing estimates and showing a 2.3% year-over-year revenue increase to $8.76 billion.
• The company announced a quarterly dividend of $0.61 per share, translating to an annualized yield of 2.58% with a payout ratio of 88.41%.

University of Texas Texas AM Investment Management Co. raised its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3,535.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,852 shares of the coffee company's stock after acquiring an additional 9,581 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in Starbucks were worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Capital World Investors boosted its holdings in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after purchasing an additional 718,880 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Starbucks by 4.6% during the 4th quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock valued at $1,238,567,000 after buying an additional 600,151 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $115.00 price objective (up from $100.00) on shares of Starbucks in a research note on Wednesday. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. Wells Fargo & Company raised their target price on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Barclays lifted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus price target of $101.27.

Starbucks Stock Down 1.5%

NASDAQ SBUX traded down $1.38 during trading hours on Thursday, hitting $91.38. The company's stock had a trading volume of 7,916,343 shares, compared to its average volume of 10,583,646. The stock has a fifty day moving average of $91.57 and a 200 day moving average of $94.65. The firm has a market capitalization of $103.84 billion, a P/E ratio of 39.40, a PEG ratio of 6.43 and a beta of 1.02. Starbucks Corporation has a twelve month low of $72.72 and a twelve month high of $117.46.

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 firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.43%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is currently 88.41%.

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.