Bayforest Capital Ltd Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Bayforest Capital Ltd purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,730 shares of the coffee company’s stock, valued at approximately $170,000.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% during the 4th 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 stake in Starbucks during the 4th quarter worth about $602,000. OneAscent Financial Services LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $294,000. Westpac Banking Corp grew its holdings in shares of Starbucks by 12.6% during the fourth quarter. Westpac Banking Corp now owns 38,169 shares of the coffee company’s stock worth $3,483,000 after purchasing an additional 4,277 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its holdings in shares of Starbucks by 20.5% in the 4th quarter. Arete Wealth Advisors LLC now owns 8,492 shares of the coffee company’s stock valued at $775,000 after acquiring an additional 1,447 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 18th. TD Securities reiterated a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Royal Bank Of Canada raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.27.

Starbucks Stock Down 2.6%

SBUX opened at $86.86 on Friday. The stock has a market capitalization of $98.73 billion, a price-to-earnings ratio of 37.44, a P/E/G ratio of 5.08 and a beta of 1.02. The company has a 50-day simple moving average of $91.73 and a 200 day simple moving average of $94.58. Starbucks Corporation has a twelve month low of $72.72 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the company posted $0.93 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.8%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Starbucks Company 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.