Fox Run Management L.L.C. Acquires New Holdings in Starbucks Corporation (NASDAQ:SBUX)

Fox Run Management L.L.C. acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 10,177 shares of the coffee company’s stock, valued at approximately $998,000.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Starbucks in the first quarter valued at approximately $1,379,619,000. Capital World Investors boosted its stake in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. Jennison Associates LLC acquired a new stake in Starbucks in the first quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks in the first quarter valued at approximately $503,539,000. Finally, Goldman Sachs Group Inc. boosted its stake in Starbucks by 59.5% in the first 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. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $100.00 to $115.00 in a research note on Tuesday. TD Cowen lifted their price objective on shares of Starbucks from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Loop Capital set a $165.00 price objective on shares of Starbucks in a research note on Tuesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $103.65.

Starbucks Stock Performance

SBUX opened at $90.60 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a fifty day moving average of $92.80 and a two-hundred day moving average of $94.19. The stock has a market capitalization of $102.99 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 5.47 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the previous year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research 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 will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks’s payout ratio is currently 105.17%.

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.