Starbucks Corporation $SBUX Holdings Raised by Voya Investment Management LLC

Voya Investment Management LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,074,739 shares of the coffee company’s stock after buying an additional 21,157 shares during the period. Voya Investment Management LLC owned 0.09% of Starbucks worth $90,923,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SBUX. Norges Bank acquired a new position in shares of Starbucks during the second quarter valued at approximately $1,246,316,000. Corient Private Wealth LLC lifted its holdings in shares of Starbucks by 146.6% in the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after buying an additional 3,596,014 shares during the period. Invesco Ltd. boosted its stake in Starbucks by 11.2% during the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after buying an additional 1,286,451 shares in the last quarter. California Public Employees Retirement System grew its holdings in Starbucks by 68.0% during the second quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after acquiring an additional 1,225,447 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Starbucks by 22.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock worth $511,202,000 after acquiring an additional 1,026,056 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SBUX shares. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. TD Cowen restated a “hold” rating and issued a $84.00 target price on shares of Starbucks in a report on Monday, December 1st. Barclays cut their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Price Performance

SBUX opened at $88.33 on Friday. The company has a market capitalization of $100.44 billion, a PE ratio of 53.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.98. The business has a 50-day moving average of $84.63 and a 200-day moving average of $87.72. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter last year, the firm earned $0.80 earnings per share. Starbucks’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio is presently 151.22%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.