Zions Bancorporation National Association UT Invests $1.94 Million in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Zions Bancorporation National Association UT has purchased a new stake in Starbucks Corporation (NASDAQ:SBUX), acquiring 19,806 shares valued at approximately $1,943,000.
• Several hedge funds, including Vanguard Group and Goldman Sachs Group, have significantly increased their holdings in Starbucks, indicating strong institutional interest in the company.
• Starbucks recently declared a quarterly dividend of $0.61 per share, which will be paid on August 29th, reflecting a 2.6% yield and a high dividend payout ratio of 105.17%.

Zions Bancorporation National Association UT purchased a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,806 shares of the coffee company's stock, valued at approximately $1,943,000.

Several other hedge funds have also recently bought and sold shares of SBUX. Brighton Jones LLC raised its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after buying an additional 81,952 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Starbucks in the fourth quarter valued at approximately $602,000. Federated Hermes Inc. raised its holdings in Starbucks by 6.2% in the fourth quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock valued at $486,000 after buying an additional 311 shares during the period. Renaissance Technologies LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $33,743,000. Finally, F M Investments LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $1,522,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SBUX shares. CICC Research started coverage on shares of Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price target on the stock. Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $101.27.

Starbucks Stock Up 1.2%

SBUX stock traded up $1.10 during trading on Friday, hitting $92.12. 8,032,266 shares of the company's stock traded hands, compared to its average volume of 11,662,578. Starbucks Corporation has a 52 week low of $74.75 and a 52 week high of $117.46. The stock has a fifty day moving average price of $92.27 and a two-hundred day moving average price of $94.37. The stock has a market capitalization of $104.71 billion, a price-to-earnings ratio of 39.71, a price-to-earnings-growth ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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

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.