Starbucks Corporation $SBUX Shares Bought by National Pension Service

National Pension Service boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,530,352 shares of the coffee company’s stock after acquiring an additional 109,839 shares during the period. National Pension Service owned 0.22% of Starbucks worth $231,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC purchased a new stake in shares of Starbucks in the second quarter valued at $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter worth about $26,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Starbucks in the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. lifted its stake in shares of Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $87.26 on Thursday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The business has a 50-day moving average of $83.79 and a 200-day moving average of $87.56. The company has a market capitalization of $99.19 billion, a PE ratio of 53.21, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.80 earnings per share. Starbucks’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given 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 annualized dividend and a dividend yield of 2.8%. Starbucks’s dividend payout ratio is 151.22%.

Analyst Ratings Changes

Several equities analysts recently commented on SBUX shares. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Barclays dropped their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Sanford C. Bernstein set a $100.00 target price on shares of Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Finally, Guggenheim increased their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $101.44.

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.