Starbucks Corporation (NASDAQ:SBUX) Shares Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 209.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,972 shares of the coffee company's stock after purchasing an additional 6,749 shares during the quarter. OneAscent Financial Services LLC's holdings in Starbucks were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after purchasing an additional 784,432 shares in the last quarter. Capital World Investors grew its stake in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC grew its stake in Starbucks by 27.0% during the 4th 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after acquiring an additional 718,880 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SBUX shares. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research report on Thursday. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, BMO Capital Markets cut their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average price target of $98.58.

Starbucks Stock Up 0.7%

Shares of Starbucks stock opened at $93.80 on Monday. The firm has a market cap of $106.59 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 4.76 and a beta of 1.02. The business has a fifty day simple moving average of $90.22 and a 200-day simple moving average of $94.60. Starbucks Corporation has a fifty-two week low of $72.73 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is 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.

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