Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 30,100 Shares of Starbucks Corporation $SBUX

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,595 shares of the coffee company’s stock after acquiring an additional 30,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Starbucks were worth $16,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SBUX. Vanguard Group Inc. increased its position in Starbucks by 0.9% in the 1st 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 in the last quarter. Wellington Management Group LLP increased its position 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 in the last quarter. Nuveen LLC bought a new stake in Starbucks in the 1st quarter valued at about $1,379,619,000. Goldman Sachs Group Inc. increased its position 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 in the last quarter. Finally, Jennison Associates LLC bought a new stake in Starbucks in the 1st quarter valued at about $817,759,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $85.43 on Wednesday. The stock has a 50 day moving average price of $84.79 and a two-hundred day moving average price of $87.51. The firm has a market capitalization of $97.11 billion, a P/E ratio of 36.82, a P/E/G ratio of 4.38 and a beta of 1.01. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Increases Dividend

The business 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 dividend of $0.62 per share. 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 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Sanford C. Bernstein boosted their target price on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Citigroup decreased their price objective on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $101.12.

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.