Starbucks Corporation $SBUX Shares Bought by Aviva PLC

Aviva PLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 849,034 shares of the coffee company’s stock after acquiring an additional 55,842 shares during the quarter. Aviva PLC owned about 0.07% of Starbucks worth $77,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc lifted its position in Starbucks by 3.8% during the 2nd quarter. Prospera Financial Services Inc now owns 55,484 shares of the coffee company’s stock worth $5,086,000 after acquiring an additional 2,031 shares in the last quarter. Decker Retirement Planning Inc. raised its stake in shares of Starbucks by 497.8% during the second quarter. Decker Retirement Planning Inc. now owns 1,381 shares of the coffee company’s stock valued at $127,000 after purchasing an additional 1,150 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Starbucks by 1.9% during the first quarter. Summit Investment Advisors Inc. now owns 48,297 shares of the coffee company’s stock valued at $4,737,000 after purchasing an additional 885 shares during the period. Bensler LLC lifted its position in shares of Starbucks by 15.5% during the second quarter. Bensler LLC now owns 11,444 shares of the coffee company’s stock worth $1,049,000 after purchasing an additional 1,535 shares in the last quarter. Finally, One Wealth Capital Management LLC boosted its stake in shares of Starbucks by 52.8% in the second quarter. One Wealth Capital Management LLC now owns 8,071 shares of the coffee company’s stock valued at $740,000 after purchasing an additional 2,790 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 4.1%

Shares of SBUX stock opened at $85.57 on Friday. The company has a market cap of $97.27 billion, a P/E ratio of 52.18, a PEG ratio of 4.28 and a beta of 1.02. The business has a 50 day moving average of $83.92 and a two-hundred day moving average of $87.50. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is 151.22%.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. TD Cowen reissued a “hold” rating and issued a $84.00 price target on shares of Starbucks in a report on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Hold” and an average price target of $100.50.

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.