Baillie Gifford & Co. Acquires 58,064 Shares of Starbucks Corporation (NASDAQ:SBUX)

Baillie Gifford & Co. boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 796,031 shares of the coffee company’s stock after purchasing an additional 58,064 shares during the quarter. Baillie Gifford & Co. owned about 0.07% of Starbucks worth $78,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter valued at approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $32,000. Ball & Co Wealth Management Inc. acquired a new stake in Starbucks during the fourth quarter worth approximately $41,000. Finally, Accredited Wealth Management LLC bought a new position in Starbucks during the 4th quarter worth $44,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, June 11th. Wells Fargo & Company cut their price objective on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Bank of America raised their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Evercore ISI restated an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.58.

Starbucks Stock Up 0.8%

NASDAQ SBUX opened at $94.42 on Friday. The company has a market capitalization of $107.30 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 6.50 and a beta of 1.02. Starbucks Corporation has a twelve month low of $72.72 and a twelve month high of $117.46. The stock has a fifty day simple moving average of $91.05 and a 200 day simple moving average of $94.64.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. Research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is currently 88.41%.

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.