Czech National Bank Grows Stock Holdings in Starbucks Corporation $SBUX

by · The Markets Daily

Czech National Bank grew its holdings in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 277,776 shares of the coffee company’s stock after acquiring an additional 16,878 shares during the period. Czech National Bank’s holdings in Starbucks were worth $25,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks during the 4th quarter valued at approximately $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. increased its holdings in Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 1.0%

Starbucks stock opened at $82.68 on Tuesday. The stock has a market cap of $93.98 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 4.89 and a beta of 1.00. The company has a fifty day simple moving average of $90.23 and a 200-day simple moving average of $90.24. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced 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 company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period last year, the firm earned $0.93 earnings per share. Starbucks’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. Barclays lifted their target price on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Bank of America lifted their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. TD Cowen lifted their target price on shares of Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.40.

View Our Latest Stock Report on SBUX

About Starbucks

(Free Report)

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.

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