Starbucks Corporation $SBUX Shares Acquired by Shell Asset Management Co.

Shell Asset Management Co. increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 69.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 41,849 shares of the coffee company’s stock after buying an additional 17,092 shares during the period. Shell Asset Management Co.’s holdings in Starbucks were worth $3,835,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP boosted its stake in Starbucks by 22.3% during 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 purchasing an additional 3,545,655 shares during the period. Nuveen LLC acquired a new position in Starbucks during the 1st quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Starbucks during the 1st quarter worth about $817,759,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $81.29 on Wednesday. The firm has a 50 day simple moving average of $87.09 and a 200 day simple moving average of $88.30. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a market cap of $92.40 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 4.05 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current 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 paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBUX. Guggenheim boosted their price target on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada boosted their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, CICC Research initiated coverage on shares of Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks 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.