On October 5, 2023, it was reported that Achmea Investment Management B.V. has increased its stake in Starbucks Co. by 56.1% during the second quarter of the year. According to the filing submitted to the Securities & Exchange Commission, Achmea Investment Management B.V. now owns 95,109 shares of Starbucks’ stock after purchasing an additional 34,166 shares during this period.
The value of Achmea Investment Management B.V.’s holdings in Starbucks is currently estimated at $9,422,000 as indicated in their most recent SEC filing. This significant increase in their stake indicates a growing confidence in Starbucks’ potential for growth and profitability.
In addition to this development, Starbucks recently announced its quarterly dividend payment schedule. Shareholders of record on Friday, November 10th will be eligible to receive a dividend of $0.57 per share on Friday, November 24th. This represents an increase from the previous quarterly dividend amount of $0.53 per share.
By raising its dividend payout ratio (DPR), which currently stands at 64.63%, Starbucks has demonstrated its commitment to rewarding its shareholders and providing them with a steady stream of income from their investments. With an annualized dividend rate of $2.28 per share and a yield of 2.50%, this presents an attractive opportunity for investors looking for stable returns.
It is worth noting that the ex-dividend date for this upcoming dividend payment is set for Thursday, November 9th. This means that investors who purchase Starbucks shares before this date will be entitled to receive the dividend.
Overall, these developments suggest positive prospects for both Achmea Investment Management B.V., which has increased its investment in Starbucks significantly, and for existing or potential shareholders who stand to benefit from higher dividends and potential capital appreciation from their investment in Starbucks Co.
Investors may find it beneficial to closely monitor Starbucks’ performance and consider the potential impact of these recent developments on their portfolio. It is always advisable to conduct thorough research and seek professional guidance before making any investment decisions.
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Hedge Funds Show Strong Interest in Starbucks as Analysts Assess its Performance
October 5, 2023 – Hedge funds and other institutional investors have shown a significant interest in shares of Starbucks (NASDAQ:SBUX), as indicated by recent stake additions and reductions. This trend highlights the market’s fascination with the renowned coffee company.
Several hedge funds have either increased or decreased their stakes in Starbucks. America First Investment Advisors LLC acquired a new position worth approximately $25,000 during the first quarter. Likewise, Cranbrook Wealth Management LLC also purchased a new position during the same period, valued at around $26,000. Freedom Wealth Alliance LLC and Princeton Global Asset Management LLC joined in on the action too, each investing approximately $26,000 and $29,000 respectively during different quarters. Lastly, Ruedi Wealth Management Inc. completed this group of investors by purchasing shares worth approximately $30,000 during the fourth quarter. These investments place hedge funds’ ownership at roughly 70.13% of Starbucks’ stock.
Equities analysts have been actively monitoring Starbucks’ performance and delivering reports based on their findings. Morgan Stanley continues to endorse an “equal weight” rating for SBUX shares with a target price of $104.00. Wedbush lowered their price target from $112.00 to $105.00 to reflect updated projections in a recent report released on Wednesday, August 2nd.
Wells Fargo & Company revised their price target from $125.00 to $120.00 and maintained an “overweight” rating for the company in its July 19th report. Jefferies Financial Group also made revisions in their report by reducing Starbucks’ price target from $107.00 to $100.00.
StockNews.com recently initiated coverage on Starbucks with a “buy” rating for the company’s stock in their August 17th report.
Upon compiling various analysts’ ratings and targets for SBUX shares, Bloomberg.com reveals that ten analysts recommend holding these stocks while eleven analysts have classified them as a buy. As per Bloomberg’s data, Starbucks currently holds a consensus rating of “Moderate Buy” and an average price target of $114.38.
Trading on NASDAQ under the ticker symbol SBUX, Starbucks shares opened at $91.15 on Thursday. The Seattle-based coffee giant boasts a market capitalization of $104.40 billion. With a price-to-earnings ratio (PE) of 27.79 and a price-to-earnings-growth ratio (PEG) of 1.34, the company exhibits qualities that may attract both investors and analysts alike.
Starbucks has experienced fluctuations in its stock prices over the past year with a 52-week low of $82.43 and a 52-week high of $115.48. Analyzing the short-term performance, SBUX shares have maintained a fifty-day simple moving average of $96.90 and a two hundred-day simple moving average of $100.65.
The most recent quarterly earnings report from Starbucks was released on August 1st, revealing positive results for the coffee company. Strong financials were exhibited by an EPS (earnings per share) of $1.00 for the quarter, surpassing consensus estimates by $0.05.
Moreover, Starbucks reported revenue worth $9.17 billion during this period, slightly below the estimated value of $9.29 billion but still reflecting an impressive increase of 12.5% compared to the previous year’s quarter.
Taking into consideration its return on equity (ROE), Starbucks recorded a negative figure of 44.46%. Despite this setback, the company managed to maintain a net margin rate of 10.81%. These figures indicate that Starbucks continues to navigate challenges effectively while ensuring profitability.
Markets anticipate that Starbucks Co.’s earnings per share for the current fiscal year will likely be around 3.46 units based on estimations from equity analysts.
In conclusion, Starbucks garners interest from various hedge funds and institutional investors, making headlines with their stake adjustments in recent months. Analysts’ reports have contributed to the market’s understanding of SBUX stocks, with recommendations ranging from “hold” to “buy.” Despite a recent dip in stock prices, Starbucks remains an attractive investment opportunity, underscored by its robust financial performance during the past quarter.
