Aberdeen Group plc Purchases 462,508 Shares of Starbucks Corporation $SBUX

Key Points

• Aberdeen Group plc has increased its stake in Starbucks Corporation by 99.4%, owning approximately 0.08% of the company worth $90.4 million after acquiring an additional 462,508 shares in Q1.
• Starbucks reported a quarterly earnings miss with $0.50 EPS compared to the consensus estimate of $0.64, while revenue for the quarter reached $9.46 billion, surpassing expectations.
• The firm's quarterly dividend is set at $0.61 per share, with an annual yield of 2.7%, although its payout ratio stands at 105.17%.

Aberdeen Group plc boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 99.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 927,984 shares of the coffee company's stock after acquiring an additional 462,508 shares during the quarter. Aberdeen Group plc owned 0.08% of Starbucks worth $90,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC increased its stake in shares of Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after purchasing an additional 97 shares in the last quarter. Mendel Capital Management LLC increased its stake in shares of Starbucks by 1.8% in the 4th quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company's stock worth $522,000 after purchasing an additional 101 shares in the last quarter. Benin Management CORP increased its stake in shares of Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock worth $1,626,000 after purchasing an additional 120 shares in the last quarter. Finally, Ted Buchan & Co increased its stake in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock worth $791,000 after purchasing an additional 120 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 2.1%

SBUX traded up $1.94 on Monday, hitting $92.54. The company had a trading volume of 7,373,523 shares, compared to its average volume of 12,063,601. The company has a market cap of $105.19 billion, a PE ratio of 39.89, a PEG ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The business's fifty day simple moving average is $92.83 and its 200 day simple moving average is $93.88.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during 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 firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. On average, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.6%. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup reduced their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Stifel Nicolaus upped their price objective on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Sanford C. Bernstein increased their price target on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus target price of $103.65.

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.