Voya Investment Management LLC Purchases 238,520 Shares of Starbucks Corporation $SBUX

Key Points

• Voya Investment Management LLC increased its shareholding in Starbucks by 16.4%, acquiring an additional 238,520 shares, bringing their total to 1,691,874 shares valued at approximately $165.96 million.
• Wall Street analysts have set a consensus price target of $104.40 for Starbucks, with ratings ranging from "Strong Buy" to "Sell," indicating positive market sentiment.
• Starbucks recently announced a quarterly dividend of $0.61, equating to an annualized yield of 3.0%, though its current dividend payout ratio is over 105%.

Voya Investment Management LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 16.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,691,874 shares of the coffee company's stock after acquiring an additional 238,520 shares during the quarter. Voya Investment Management LLC owned 0.15% of Starbucks worth $165,956,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the fourth quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after buying an additional 159 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks during the 1st quarter valued at $29,000. Finally, Nova Wealth Management Inc. increased its stake in shares of Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock worth $31,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX stock traded down $0.46 during trading hours on Friday, hitting $81.90. 9,987,632 shares of the company's stock were exchanged, compared to its average volume of 8,002,103. The stock's 50-day moving average is $90.45 and its 200-day moving average is $90.47. The stock 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 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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). 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%.Starbucks's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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 issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 3.0%. Starbucks's payout ratio is presently 105.17%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SBUX shares. TD Cowen lifted their price objective on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Guggenheim raised their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.40.

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.