Acorns Advisers LLC Buys 290 Shares of Starbucks Corporation $SBUX

Acorns Advisers LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,670 shares of the coffee company’s stock after acquiring an additional 290 shares during the period. Acorns Advisers LLC’s holdings in Starbucks were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks during the fourth quarter worth about $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the first quarter valued at approximately $29,000. Activest Wealth Management boosted its stake in shares of Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Starbucks during the first quarter valued at approximately $42,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Piper Sandler set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a report on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. TD Cowen increased their price objective on Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.40.

Starbucks Trading Down 0.4%

NASDAQ SBUX opened at $83.81 on Wednesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $95.27 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.01 and a beta of 1.00. The stock’s fifty day moving average price is $91.17 and its 200-day moving average price is $91.29.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is presently 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.