AG2R LA Mondiale Gestion D Actifs Buys Shares of 41,900 Starbucks Corporation $SBUX

Key Points

• AG2R LA Mondiale Gestion D Actifs purchased 41,900 shares of Starbucks Corporation ($SBUX), valued at approximately $4.11 million, during the first quarter.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates by $0.14, while the company experienced a 3.8% revenue increase year-over-year.
• Starbucks announced a quarterly dividend of $0.61, leading to an annualized dividend yield of 3.0%, despite a payout ratio of 105.17%.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 41,900 shares of the coffee company's stock, valued at approximately $4,110,000.

Other institutional investors have also added to or reduced their stakes in the company. Napa Wealth Management purchased a new stake in Starbucks during the 1st quarter valued at $1,435,000. Vanguard Capital Wealth Advisors purchased a new stake in Starbucks during the 4th quarter valued at $285,000. Czech National Bank boosted its stake in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC boosted its stake in Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares during the last quarter. Finally, First Manhattan CO. LLC. boosted its stake in shares of Starbucks by 33.1% in the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after buying an additional 111,015 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.6%

Shares of Starbucks stock opened at $82.36 on Friday. The stock's 50-day simple moving average is $90.70 and its 200-day simple moving average is $91.02. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a market capitalization of $93.62 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 4.93 and a beta of 1.00.

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 the consensus estimate 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 period last year, the firm posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's payout ratio is 105.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. CICC Research assumed coverage on Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 price target on the stock. Guggenheim raised their price target on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Citigroup dropped their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. Finally, Evercore ISI restated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks 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.

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