Motley Fool Asset Management LLC Raises Stake in Starbucks Corporation $SBUX

Motley Fool Asset Management LLC raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,758 shares of the coffee company’s stock after purchasing an additional 2,918 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Starbucks were worth $5,109,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares in the last quarter. Wellington Management Group LLP lifted 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. Nuveen LLC purchased a new position in Starbucks during the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. lifted 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, Jennison Associates LLC purchased a new position in Starbucks during the first quarter valued at approximately $817,759,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Loop Capital set a $165.00 price target on shares of Starbucks in a report on Tuesday, August 12th. BMO Capital Markets reissued an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Mizuho set a $84.00 target price on shares of Starbucks in a report on Monday. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Morgan Stanley set a $105.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $101.12.

Starbucks Stock Up 1.3%

Starbucks stock opened at $87.22 on Tuesday. The company has a market cap of $99.14 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 4.32 and a beta of 1.01. The firm’s fifty day moving average is $84.90 and its 200 day moving average is $87.51. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. Starbucks’s payout ratio is currently 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.