Starbucks Corporation (NASDAQ:SBUX) Stake Boosted by National Pension Service

Key Points

• The National Pension Service increased its stake in Starbucks by 6.1%, owning approximately 2.42 million shares valued at $237.4 million.
• Starbucks reported a quarterly earnings per share (EPS) of $0.50, missing estimates by $0.14, although revenue increased by 3.8% year over year.
• The company announced a quarterly dividend of $0.61 per share, with a yield of 2.6%, while maintaining a dividend payout ratio of 105.17%.

National Pension Service lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,420,513 shares of the coffee company's stock after buying an additional 138,768 shares during the period. National Pension Service owned approximately 0.21% of Starbucks worth $237,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Brighton Jones LLC lifted its position in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. Federated Hermes Inc. lifted its position in Starbucks by 6.2% in the fourth quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock worth $486,000 after purchasing an additional 311 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in Starbucks in the fourth quarter worth approximately $728,000. CreativeOne Wealth LLC lifted its position in Starbucks by 2.0% in the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock worth $927,000 after purchasing an additional 196 shares during the period. Finally, Belpointe Asset Management LLC lifted its position in Starbucks by 1.5% in the fourth quarter. Belpointe Asset Management LLC now owns 14,397 shares of the coffee company's stock worth $1,362,000 after purchasing an additional 207 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Starbucks stock opened at $93.37 on Wednesday. The company 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 Corporation has a one year low of $75.50 and a one year high of $117.46. The company's fifty day moving average price is $92.53 and its two-hundred day moving average price is $94.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $100.00 to $115.00 in a research report on Tuesday. Wells Fargo & Company increased their price objective on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. UBS Group increased their price objective on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus price target of $104.19.

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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