Westfuller Advisors LLC Acquires Shares of 11,041 Starbucks Corporation $SBUX

Key Points

• Westfuller Advisors LLC acquired approximately 11,041 shares of Starbucks, valued at around $1,012,000, during the second quarter, signaling growing institutional interest in the company.
• Starbucks reported $0.50 earnings per share for the last quarter, which fell short of analysts' expectations of $0.64, despite achieving revenue of $9.46 billion.
• The company recently announced a quarterly dividend of $0.61, reflecting an annualized dividend yield of 2.9% with a current payout ratio of 105.17%.

Westfuller Advisors LLC bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,041 shares of the coffee company's stock, valued at approximately $1,012,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the fourth quarter worth $25,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after buying an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the first quarter worth $29,000. Finally, Nova Wealth Management Inc. grew its stake in shares of Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock worth $31,000 after buying an additional 234 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

SBUX stock opened at $84.56 on Friday. The stock has a market capitalization of $96.12 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 5.05 and a beta of 1.00. The company's 50-day moving average is $89.34 and its 200-day moving average is $89.59. 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 data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) 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 the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.Starbucks's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.93 EPS. On average, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks's dividend payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBUX shares. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. TD Cowen boosted their price objective on shares of Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. UBS Group boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Barclays boosted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.40.

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.

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