Starbucks Corporation $SBUX Shares Acquired by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Starbucks by 0.7%, owning 614,069 shares worth $56.27 million as of the second quarter.
• Starbucks recently reported a quarterly earnings miss, with EPS of $0.50 against an expectation of $0.64, despite revenue exceeding forecasts at $9.46 billion.
• The company also raised its quarterly dividend from $0.61 to $0.62, which reflects an annualized yield of 2.9% and a payout ratio of 105.17%.

Chevy Chase Trust Holdings LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,069 shares of the coffee company's stock after buying an additional 4,297 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Starbucks worth $56,267,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Game Plan Financial Advisors LLC acquired a new position in Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. acquired a new position in Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC acquired a new position in Starbucks during the first quarter worth $27,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in Starbucks during the first quarter worth $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. UBS Group lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Zacks Research raised Starbucks from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 1st. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an "overweight" rating in a research report on Thursday. Finally, BTIG Research set a $105.00 price target on Starbucks in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and an average target price of $102.76.

Starbucks Stock Performance

Starbucks stock opened at $85.36 on Friday. The stock has a fifty day moving average of $85.72 and a two-hundred day moving average of $87.49. The company has a market capitalization of $97.03 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 4.17 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. On average, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.62 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

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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