Starbucks Corporation $SBUX Stock Holdings Lifted by National Pension Service

National Pension Service increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,530,352 shares of the coffee company’s stock after buying an additional 109,839 shares during the period. National Pension Service’s holdings in Starbucks were worth $231,856,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nuveen LLC bought a new position in shares of Starbucks during the first quarter valued at approximately $1,379,619,000. Jennison Associates LLC bought a new position in Starbucks during the 1st quarter worth $817,759,000. Polen Capital Management LLC bought a new stake in Starbucks in the first quarter valued at $503,539,000. Goldman Sachs Group Inc. boosted its holdings in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.0%

Shares of Starbucks stock opened at $87.26 on Thursday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a market capitalization of $99.19 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The stock’s fifty day moving average is $83.79 and its 200-day moving average is $87.56.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

Analysts Set New Price Targets

Several research firms have commented on SBUX. Barclays decreased their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. TD Cowen reaffirmed a “hold” rating and set a $84.00 target price on shares of Starbucks in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Guggenheim lifted their price objective on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

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.