Starbucks Corporation $SBUX Shares Acquired by Strs Ohio

Strs Ohio increased its position in Starbucks Corporation (NASDAQ:SBUX) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,562 shares of the coffee company’s stock after acquiring an additional 24,051 shares during the period. Strs Ohio’s holdings in Starbucks were worth $28,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after acquiring an additional 953,361 shares during the period. Wellington Management Group LLP grew its holdings in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Nuveen LLC acquired a new stake in shares of Starbucks in the 1st quarter worth approximately $1,379,619,000. Goldman Sachs Group Inc. grew its holdings in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Starbucks in the 1st quarter worth approximately $817,759,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.2%

Shares of Starbucks stock opened at $83.15 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a market cap of $94.52 billion, a PE ratio of 50.70, a P/E/G ratio of 4.28 and a beta of 1.01. The business’s fifty day moving average is $84.58 and its two-hundred day moving average is $87.47.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders 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 represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 105.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SBUX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Bank of America increased 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. BTIG Research reiterated a “buy” rating and set a $105.00 target price on shares of Starbucks in a report on Thursday. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average 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.