Blue Barn Wealth LLC Invests $259,000 in Starbucks Corporation (NASDAQ:SBUX)

Blue Barn Wealth LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, HoldingsChannel reports. The firm acquired 2,643 shares of the coffee company’s stock, valued at approximately $259,000.

Several other institutional investors have also bought and sold shares of SBUX. Capital World Investors lifted its stake in shares of Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. Jennison Associates LLC bought a new position in Starbucks during the 1st quarter valued at $817,759,000. Goldman Sachs Group Inc. increased its position 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 valued at $943,948,000 after purchasing an additional 3,589,537 shares during the period. Capital Research Global Investors lifted its holdings in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Starbucks by 218.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company’s stock valued at $446,596,000 after buying an additional 3,124,533 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $88.99 on Thursday. Starbucks Corporation has a fifty-two week low of $74.75 and a fifty-two week high of $117.46. The stock’s 50-day moving average is $91.96 and its two-hundred day moving average is $94.48. The firm has a market cap of $101.15 billion, a P/E ratio of 38.36, a PEG ratio of 5.14 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 EPS. As a group, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. TD Securities reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Bank of America increased their price objective on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lifted their target price on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Guggenheim upped their target price on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.