Vanguard Group Inc. Purchases 802,053 Shares of Starbucks Corporation $SBUX

Vanguard Group Inc. lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,861,623 shares of the coffee company’s stock after acquiring an additional 802,053 shares during the period. Vanguard Group Inc. owned approximately 9.93% of Starbucks worth $10,341,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SBUX. Greykasell Wealth Strategies Inc. lifted its stake in Starbucks by 3.4% during the second quarter. Greykasell Wealth Strategies Inc. now owns 5,599 shares of the coffee company’s stock worth $513,000 after purchasing an additional 186 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Starbucks by 3.3% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 6,883 shares of the coffee company’s stock valued at $631,000 after purchasing an additional 220 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Starbucks by 6.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 450,948 shares of the coffee company’s stock worth $41,320,000 after buying an additional 29,073 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Starbucks by 6.5% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 830,151 shares of the coffee company’s stock worth $76,067,000 after buying an additional 50,802 shares during the last quarter. Finally, Bell Investment Advisors Inc boosted its stake in Starbucks by 473.7% in the second quarter. Bell Investment Advisors Inc now owns 2,226 shares of the coffee company’s stock valued at $204,000 after buying an additional 1,838 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $83.69 on Tuesday. The firm has a market cap of $95.13 billion, a PE ratio of 51.03, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. The firm’s fifty day moving average is $83.75 and its 200-day moving average is $87.64. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.62 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Piper Sandler dropped their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. BTIG Research restated a “buy” rating and issued a $105.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

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.