Blue Barn Wealth LLC Purchases 1,196 Shares of Starbucks Corporation $SBUX

Blue Barn Wealth LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 45.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,839 shares of the coffee company’s stock after buying an additional 1,196 shares during the quarter. Blue Barn Wealth LLC’s holdings in Starbucks were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Nuveen LLC bought a new position in Starbucks during the first quarter valued at about $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks during the first quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks during the first quarter valued at approximately $503,539,000. 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 valued at $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Starbucks by 22.3% during 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 purchasing an additional 3,545,655 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of SBUX opened at $79.60 on Wednesday. The company has a market capitalization of $90.48 billion, a P/E ratio of 48.54, a PEG ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The business’s 50 day simple moving average is $84.19 and its 200-day simple moving average is $87.50.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.1%. Starbucks’s dividend payout ratio is presently 151.22%.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Mizuho raised Starbucks to a “hold” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

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.