Swedbank AB Boosts Stake in Starbucks Corporation $SBUX

Swedbank AB increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 550,226 shares of the coffee company’s stock after purchasing an additional 668 shares during the period. Swedbank AB’s holdings in Starbucks were worth $53,972,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. Brighton Jones LLC lifted its holdings in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after buying an additional 81,952 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Starbucks during the 4th quarter worth approximately $710,000. Rafferty Asset Management LLC lifted its holdings in Starbucks by 16.7% during the 4th quarter. Rafferty Asset Management LLC now owns 251,470 shares of the coffee company’s stock worth $22,947,000 after buying an additional 35,983 shares in the last quarter. Shellback Capital LP acquired a new stake in Starbucks during the 4th quarter worth approximately $7,300,000. Finally, Steadfast Capital Management LP acquired a new stake in Starbucks during the 4th quarter worth approximately $211,970,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX opened at $81.90 on Friday. The firm’s fifty day moving average price is $90.45 and its 200 day moving average price is $90.79. The company has a market capitalization of $93.10 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 4.92 and a beta of 1.00. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $0.93 earnings per share. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Bank of America raised their price objective on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. CICC Research started coverage on shares of Starbucks in a report on Monday, June 30th. They issued an “outperform” rating and a $100.00 price objective on the stock. Barclays raised their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, TD Cowen raised their price objective on shares of Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

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.