Phoenix Financial Ltd. Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Phoenix Financial Ltd. acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,140 shares of the coffee company’s stock, valued at approximately $704,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. TrinityPoint Wealth LLC boosted its position in shares of Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the period. Pioneer Trust Bank N A OR boosted its position in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after buying an additional 92 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Starbucks by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after buying an additional 97 shares during the period. Foster Dykema Cabot & Partners LLC boosted its position in shares of Starbucks by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after buying an additional 97 shares during the period. Finally, Taurus Asset Management LLC boosted its position in shares of Starbucks by 0.5% during the fourth quarter. Taurus Asset Management LLC now owns 21,895 shares of the coffee company’s stock worth $1,998,000 after buying an additional 100 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock opened at $94.42 on Friday. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The company has a market capitalization of $107.30 billion, a P/E ratio of 34.21, a PEG ratio of 6.50 and a beta of 1.02. The stock has a 50-day simple moving average of $91.05 and a 200-day simple moving average of $94.64.

Starbucks (NASDAQ:SBUX) last posted its 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio is presently 88.41%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus lifted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. TD Cowen restated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Royal Bank Of Canada lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Finally, Cowen reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $98.58.

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.