Vanguard Personalized Indexing Management LLC Has $14.09 Million Holdings in Starbucks Corporation $SBUX

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Starbucks by 7.7%, owning a total of 153,767 shares valued at approximately $14.09 million.
• Starbucks reported a quarterly earnings per share (EPS) of $0.50, missing estimates of $0.64, but generated revenues of $9.46 billion, exceeding projections.
• The company announced a quarterly dividend increase to $0.62 per share, reflecting an annual yield of 3.2% and a payout ratio of 105.17%.

Vanguard Personalized Indexing Management LLC grew its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,767 shares of the coffee company's stock after buying an additional 11,021 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Starbucks were worth $14,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after buying an additional 953,361 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the period. Nuveen LLC acquired a new position in Starbucks during the first quarter worth $1,379,619,000. Goldman Sachs Group Inc. boosted its holdings in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Starbucks during the first quarter worth $817,759,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBUX. CICC Research began coverage on shares of Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 target price for the company. Evercore ISI restated an "outperform" rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. BTIG Research set a $105.00 target price on shares of Starbucks in a report on Thursday, September 25th. Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, TD Securities restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and an average target price of $103.56.

Starbucks Trading Down 1.7%

NASDAQ SBUX opened at $78.46 on Friday. The firm's fifty day moving average price is $86.48 and its two-hundred day moving average price is $87.95. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market capitalization of $89.19 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 3.87 and a beta of 1.01.

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

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.2%. This is an increase from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's payout ratio is currently 105.17%.

About Starbucks

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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