Starbucks Corporation $SBUX Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,846,634 shares of the coffee company’s stock after acquiring an additional 99,983 shares during the quarter. Geode Capital Management LLC owned about 2.27% of Starbucks worth $2,357,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after buying an additional 953,361 shares during the period. Wellington Management Group LLP increased its position in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. Nuveen LLC purchased a new position in shares of Starbucks in the 1st quarter valued at $1,379,619,000. Goldman Sachs Group Inc. lifted its holdings 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 valued at $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in Starbucks during the 1st quarter worth $817,759,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup reduced their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Bank of America increased their price objective on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. Finally, Barclays cut their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $100.50.

Starbucks Stock Up 2.2%

Shares of NASDAQ SBUX opened at $86.42 on Wednesday. The stock’s 50 day moving average price is $83.79 and its two-hundred day moving average price is $87.56. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market capitalization of $98.23 billion, a P/E ratio of 52.70, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts anticipate 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. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.9%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

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.