ASR Vermogensbeheer N.V. Acquires 12,402 Shares of Starbucks Corporation $SBUX

Key Points

• ASR Vermogensbeheer N.V. increased its holdings in Starbucks Corporation by 14.1% after acquiring an additional 12,402 shares, bringing their total to 100,068 shares valued at approximately $9.17 million as of the last quarter.
• Starbucks recently declared a quarterly dividend of $0.62 per share, representing a 2.9% yield and an increase from the previous $0.61 dividend.
• Analysts have set an average target price of $104.00 for Starbucks, with many maintaining an "outperform" rating, indicating positive expectations for the company’s stock performance.

ASR Vermogensbeheer N.V. raised its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,068 shares of the coffee company's stock after buying an additional 12,402 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Starbucks were worth $9,169,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Chelsea Counsel Co. bought a new stake in Starbucks in the 2nd quarter valued at $26,000. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after purchasing an additional 159 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. grew its stake in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock valued at $31,000 after purchasing an additional 234 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on SBUX shares. CICC Research began coverage on Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 target price for the company. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $115.00 price objective (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and an average target price of $104.00.

Starbucks Stock Up 2.7%

SBUX stock opened at $86.72 on Friday. The company has a market cap of $98.57 billion, a P/E ratio of 37.38, a PEG ratio of 4.15 and a beta of 1.01. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The business has a fifty day moving average of $87.72 and a 200-day moving average of $88.69.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly 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). The firm had revenue of $9.46 billion during 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%. Starbucks's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's payout ratio 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.

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