87,666 Shares in Starbucks Corporation (NASDAQ:SBUX) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. purchased 87,666 shares of Starbucks, valued at approximately $8.6 million, indicating increased institutional investment interest in the company.
• Starbucks recently reported $0.50 EPS for the quarter, missing estimates, but showed a 3.8% year-over-year revenue growth of $9.46 billion.
• The company declared a quarterly dividend of $0.61 per share, with an annualized dividend yield of 2.7%, despite having a high payout ratio of 105.17%.

ASR Vermogensbeheer N.V. purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 87,666 shares of the coffee company's stock, valued at approximately $8,599,000.

A number of other hedge funds have also bought and sold shares of SBUX. Capital World Investors increased its position in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. Jennison Associates LLC bought a new position in Starbucks during the first quarter worth about $817,759,000. Goldman Sachs Group Inc. increased its position in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the period. Capital Research Global Investors increased its position in Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after acquiring an additional 3,563,942 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Starbucks by 218.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company's stock worth $446,596,000 after acquiring an additional 3,124,533 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 1.3%

Shares of SBUX opened at $88.99 on Thursday. Starbucks Corporation has a 12-month low of $74.75 and a 12-month high of $117.46. The business's fifty day moving average is $91.96 and its 200 day moving average is $94.48. The stock has a market cap of $101.15 billion, a P/E ratio of 38.36, a P/E/G ratio of 5.14 and a beta of 1.02.

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

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird boosted their price target on Starbucks from $88.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Wells Fargo & Company boosted their price target on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Guggenheim boosted their price target on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Barclays boosted their price target on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Starbucks currently has an average rating of "Hold" and a consensus target price of $101.27.

About Starbucks

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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