J. Safra Sarasin Holding AG Buys New Stake in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• J. Safra Sarasin Holding AG acquired a new stake in Starbucks by purchasing 3,262 shares valued at approximately $320,000.
• Starbucks reported a quarterly earnings miss with an EPS of $0.50, below the consensus estimate of $0.64.
• The company has announced a quarterly dividend of $0.61 per share, representing a 2.7% yield for investors.

J. Safra Sarasin Holding AG purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,262 shares of the coffee company's stock, valued at approximately $320,000.

Other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the fourth quarter worth approximately $25,000. Hughes Financial Services LLC purchased a new stake in Starbucks in the first quarter worth approximately $27,000. Kapitalo Investimentos Ltda purchased a new stake in Starbucks in the fourth quarter worth approximately $32,000. Ball & Co Wealth Management Inc. purchased a new stake in Starbucks in the fourth quarter worth approximately $41,000. Finally, Accredited Wealth Management LLC purchased a new stake in Starbucks in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. TD Securities restated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Robert W. Baird raised their target price on shares of Starbucks from $88.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.27.

Starbucks Price Performance

Shares of SBUX stock traded up $0.42 on Tuesday, hitting $90.20. 6,989,938 shares of the stock traded hands, compared to its average volume of 11,451,248. The firm has a market cap of $102.53 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 5.12 and a beta of 1.02. Starbucks Corporation has a 52 week low of $73.84 and a 52 week high of $117.46. The firm has a 50 day simple moving average of $91.83 and a two-hundred day simple moving average of $94.55.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Starbucks Company 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.