Banco Santander S.A. Boosts Stake in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Banco Santander S.A. increased its stake in Starbucks Corporation by 33.8%, owning 70,948 shares valued at approximately $6.96 million after purchasing an additional 17,916 shares in the first quarter.
• Starbucks reported a quarterly earnings miss with an EPS of $0.50, falling short of the consensus estimate of $0.64, despite a revenue increase of 3.8% year-over-year to $9.46 billion.
• The company announced a quarterly dividend of $0.61 per share, resulting in an annualized yield of 2.8%, with a payout ratio currently at 105.17%.

Banco Santander S.A. grew its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 33.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,948 shares of the coffee company's stock after acquiring an additional 17,916 shares during the quarter. Banco Santander S.A.'s holdings in Starbucks were worth $6,959,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Capital World Investors lifted its stake in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Starbucks during the first quarter valued at about $817,759,000. FMR LLC raised its stake in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Starbucks by 167.6% during the 4th 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Starbucks by 218.7% during the 1st 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 in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $86.86 on Friday. The stock has a market capitalization of $98.73 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 4.95 and a beta of 1.02. The firm's 50 day simple moving average is $91.73 and its 200-day simple moving average is $94.59. Starbucks Corporation has a 12 month low of $72.72 and a 12 month high of $117.46.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SBUX shares. Royal Bank Of Canada upped their price target on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday. Sanford C. Bernstein upped their target price on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Barclays upped their target price on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, TD Cowen upped their price objective on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.