Capital Research Global Investors Buys 2,395,500 Shares of Starbucks Co. (NASDAQ:SBUX)

Capital Research Global Investors increased its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 28.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,948,617 shares of the coffee company’s stock after acquiring an additional 2,395,500 shares during the period. Capital Research Global Investors owned about 0.95% of Starbucks worth $995,996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Equitable Holdings Inc. raised its holdings in Starbucks by 11.5% during the fourth quarter. Equitable Holdings Inc. now owns 23,468 shares of the coffee company’s stock worth $2,745,000 after acquiring an additional 2,425 shares in the last quarter. Advisor Resource Council bought a new stake in Starbucks in the fourth quarter valued at approximately $669,000. Charles Schwab Investment Advisory Inc. bought a new stake in Starbucks in the fourth quarter valued at approximately $203,000. Charles Schwab Investment Management Inc. raised its stake in Starbucks by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,279,589 shares of the coffee company’s stock valued at $968,463,000 after buying an additional 177,483 shares during the period. Finally, Rice Partnership LLC raised its stake in Starbucks by 1.7% in the fourth quarter. Rice Partnership LLC now owns 8,641 shares of the coffee company’s stock valued at $1,011,000 after buying an additional 147 shares during the period. Institutional investors own 67.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Starbucks from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Morgan Stanley upped their target price on Starbucks from $87.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, July 18th. Robert W. Baird upped their target price on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday. Wedbush upped their target price on Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Cowen upped their target price on Starbucks from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Fifteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $103.86.

Starbucks Stock Performance

Shares of SBUX opened at $92.70 on Thursday. Starbucks Co. has a 52 week low of $68.39 and a 52 week high of $117.80. The stock has a market capitalization of $106.36 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.76 and a beta of 0.94. The stock has a fifty day moving average of $84.35 and a 200-day moving average of $81.41.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same period in the previous year, the business posted $1.01 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio is currently 55.21%.

Starbucks Profile

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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