GFS Advisors LLC Invests $1.12 Million in Starbucks Corporation $SBUX

GFS Advisors LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,255 shares of the coffee company’s stock, valued at approximately $1,123,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Starbucks by 22.3% during 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 purchasing an additional 3,545,655 shares in the last quarter. Nuveen LLC bought a new stake in shares of Starbucks during the 1st quarter worth approximately $1,379,619,000. Goldman Sachs Group Inc. raised its stake in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter worth approximately $817,759,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $78.46 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a market capitalization of $89.19 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.87 and a beta of 1.01. The stock has a fifty day moving average of $86.48 and a 200-day moving average of $87.95.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the business posted $0.93 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Wells Fargo & Company increased their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Barclays increased their price target on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.56.

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.