282,511 Shares in Starbucks Corporation $SBUX Bought by Strs Ohio

Key Points

• Strs Ohio has made a new investment in Starbucks, purchasing 282,511 shares valued at approximately $27.7 million during the first quarter.
• Analysts have recently set new price targets for Starbucks shares, with Guggenheim raising their target from $79.00 to $90.00, while Morgan Stanley increased theirs to $103.00.
• Starbucks declared a quarterly dividend of $0.61 per share, with an annualized dividend yield of 3.0%, despite high payout ratio of 105.17%.

Strs Ohio purchased a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 282,511 shares of the coffee company's stock, valued at approximately $27,712,000.

Other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks in the 1st quarter worth approximately $29,000. Activest Wealth Management raised its holdings in Starbucks by 78.0% during the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock valued at $32,000 after acquiring an additional 145 shares during the period. Finally, Ball & Co Wealth Management Inc. bought a new stake in Starbucks during the 4th quarter valued at $41,000. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an "overweight" rating in a report on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Bank of America boosted their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Trading Down 0.6%

Shares of SBUX traded down $0.46 during mid-day trading on Friday, reaching $81.90. 9,987,632 shares of the stock traded hands, compared to its average volume of 8,002,103. The firm has a fifty day moving average price of $90.45 and a 200 day moving average price of $90.64. The company has a market cap of $93.10 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 4.89 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $9.46 billion for 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%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 3.0%. Starbucks's payout ratio is 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.