Starbucks Corporation $SBUX Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 29.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,319 shares of the coffee company’s stock after acquiring an additional 1,449 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Starbucks were worth $579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Brighton Jones LLC boosted its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Vise Technologies Inc. increased its position in shares of Starbucks by 104.8% during the fourth quarter. Vise Technologies Inc. now owns 10,702 shares of the coffee company’s stock worth $977,000 after purchasing an additional 5,476 shares in the last quarter. GTS Securities LLC increased its position in Starbucks by 105.7% in the 4th quarter. GTS Securities LLC now owns 12,510 shares of the coffee company’s stock valued at $1,142,000 after acquiring an additional 232,880 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter valued at about $25,000. Finally, GF Fund Management CO. LTD. acquired a new position in Starbucks in the 4th quarter valued at about $19,608,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. CICC Research assumed coverage on Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 price target (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Wells Fargo & Company upped their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Starbucks Trading Up 1.4%

SBUX opened at $84.56 on Friday. The business’s 50 day moving average is $89.34 and its 200-day moving average is $89.59. The stock has a market cap of $96.12 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 5.05 and a beta of 1.00. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

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

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.