Okabena Investment Services Inc. Makes New $1.15 Million Investment in Starbucks Corporation $SBUX

Okabena Investment Services Inc. bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,763 shares of the coffee company’s stock, valued at approximately $1,154,000.

A number of other institutional investors have also modified their holdings of SBUX. Vanguard Group Inc. raised its position in shares of Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP increased its position in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Nuveen LLC bought a new stake in Starbucks during the 1st quarter valued at $1,379,619,000. Goldman Sachs Group Inc. boosted its position in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Starbucks in the first quarter worth $817,759,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, TD Cowen increased their price target on Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Starbucks Trading Up 1.2%

NASDAQ SBUX opened at $87.66 on Thursday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market cap of $99.64 billion, a PE ratio of 37.78, a PEG ratio of 5.14 and a beta of 1.02. The stock’s 50-day moving average price is $92.15 and its two-hundred day moving average price is $93.02.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the company posted $0.93 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced 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. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is 105.17%.

About Starbucks

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.