Starbucks Corporation (NASDAQ:SBUX) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Starbucks by purchasing 953,361 shares, raising its total stake to approximately 112 million shares, worth nearly $11 billion.
• Starbucks recently reported earnings of $0.50 per share for the last quarter, missing analyst estimates, while revenue grew by 3.8% year-over-year to $9.46 billion.
• The company's latest quarterly dividend is scheduled for August 29th, with a payment of $0.61 per share, resulting in an annualized dividend yield of 2.7%.

Vanguard Group Inc. grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,059,570 shares of the coffee company's stock after buying an additional 953,361 shares during the quarter. Vanguard Group Inc. owned 9.86% of Starbucks worth $10,991,923,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Legacy Capital Group California Inc. grew its stake in shares of Starbucks by 6.5% in the first quarter. Legacy Capital Group California Inc. now owns 5,560 shares of the coffee company's stock worth $545,000 after acquiring an additional 338 shares during the last quarter. Intrust Bank NA increased its stake in Starbucks by 3.3% during the 1st quarter. Intrust Bank NA now owns 17,641 shares of the coffee company's stock valued at $1,730,000 after purchasing an additional 557 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in Starbucks by 111.9% in the 1st quarter. Wealthspire Advisors LLC now owns 90,522 shares of the coffee company's stock worth $8,879,000 after acquiring an additional 47,805 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Starbucks by 8.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,429 shares of the coffee company's stock valued at $434,000 after purchasing an additional 336 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ:SBUX traded up $1.10 during trading hours on Friday, reaching $92.12. The company's stock had a trading volume of 8,032,266 shares, compared to its average volume of 11,577,803. Starbucks Corporation has a 12 month low of $74.75 and a 12 month high of $117.46. The stock has a 50 day moving average price of $92.10 and a two-hundred day moving average price of $94.45. The company has a market capitalization of $104.71 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 5.19 and a beta of 1.02.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.6%. Starbucks's payout ratio is presently 105.17%.

Analyst Ratings Changes

SBUX has been the topic of several research reports. CICC Research initiated coverage on shares of Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. Sanford C. Bernstein raised their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada upped their price target on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. Finally, Stifel Nicolaus increased their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of "Hold" and an average target price of $101.27.

Starbucks 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.