Bayforest Capital Ltd Makes New $170,000 Investment in Starbucks Corporation (NASDAQ:SBUX)

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

Several other hedge funds have also recently made changes to their positions in SBUX. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks during the fourth quarter valued at about $285,000. Czech National Bank increased its holdings in shares of Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after buying an additional 5,151 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Starbucks by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company’s stock worth $45,489,000 after acquiring an additional 3,130 shares during the last quarter. Finally, Norden Group LLC lifted its stake in Starbucks by 66.1% during the 1st quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock valued at $2,964,000 after acquiring an additional 12,027 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 2.6%

Shares of NASDAQ SBUX opened at $86.86 on Friday. The stock has a market capitalization of $98.73 billion, a PE ratio of 37.44, a P/E/G ratio of 5.08 and a beta of 1.02. The firm has a fifty day moving average of $91.73 and a 200-day moving average of $94.58. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46.

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 the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, August 15th. Starbucks’s dividend payout ratio is 105.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Robert W. Baird increased their target price on Starbucks from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.27.

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.