UNIVEST FINANCIAL Corp Has $794,000 Stake in Starbucks Corporation $SBUX

UNIVEST FINANCIAL Corp raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 41.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,664 shares of the coffee company’s stock after buying an additional 2,518 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Starbucks were worth $794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Nuveen LLC acquired a new stake in Starbucks in the 1st quarter valued at $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks in the 1st quarter valued at $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks in the 1st quarter valued at $503,539,000. Goldman Sachs Group Inc. increased its stake in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Starbucks by 22.3% in 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 buying an additional 3,545,655 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 1.2%

NASDAQ SBUX opened at $83.15 on Friday. The company has a market capitalization of $94.52 billion, a P/E ratio of 50.70, a P/E/G ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a 50-day moving average price of $84.58 and a two-hundred day moving average price of $87.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.80 EPS. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued 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 3.0%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research note on Thursday. Guggenheim upped their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Mizuho upgraded shares of Starbucks to a “hold” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.50.

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.