Starbucks Corporation $SBUX Shares Bought by Stephens Inc. AR

Key Points

• Stephens Inc. AR increased its stake in Starbucks by 13.9% during Q2, owning 79,054 shares valued at $7.24 million after purchasing an additional 9,666 shares.
• Starbucks declared a quarterly dividend of $0.62 per share, up from the previous $0.61, representing an annualized yield of 2.9%.
• Despite reporting earnings per share of $0.50 for the last quarter, missing estimates, Starbucks' revenue increased by 3.8% compared to the same quarter last year.

Stephens Inc. AR grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 13.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,054 shares of the coffee company's stock after purchasing an additional 9,666 shares during the quarter. Stephens Inc. AR's holdings in Starbucks were worth $7,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Narwhal Capital Management lifted its stake in shares of Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company's stock worth $3,000,000 after acquiring an additional 9,282 shares in the last quarter. PUREfi Wealth LLC acquired a new position in shares of Starbucks in the second quarter worth about $286,000. Napa Wealth Management acquired a new position in shares of Starbucks in the first quarter worth about $1,435,000. Morningstar Investment Management LLC acquired a new position in shares of Starbucks in the second quarter worth about $653,000. Finally, Pegasus Asset Management Inc. acquired a new position in shares of Starbucks in the second quarter worth about $1,289,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 1.0%

Shares of Starbucks stock opened at $84.53 on Tuesday. The business's 50 day simple moving average is $85.57 and its 200-day simple moving average is $87.41. The stock has a market capitalization of $96.09 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 4.22 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 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 company 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 firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks's previous quarterly dividend of $0.61. Starbucks's payout ratio is currently 105.17%.

Analyst Ratings Changes

Several research firms recently commented on SBUX. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Morgan Stanley set a $105.00 price objective on Starbucks and gave the company an "overweight" rating in a research note on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Starbucks in a research note on Wednesday, October 8th. Zacks Research upgraded Starbucks from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $102.84.

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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