Banque Cantonale Vaudoise Buys Shares of 16,484 Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Starbucks, purchasing 16,484 shares valued at approximately $1.6 million during the first quarter.
• Starbucks reported earnings of $0.50 per share for its most recent quarter, missing the consensus estimate of $0.64, but surpassed revenue expectations with $9.46 billion.
• The company announced a quarterly dividend of $0.61 per share, with an annualized dividend yield of 2.63%, set to be paid on August 29th.

Banque Cantonale Vaudoise acquired a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,484 shares of the coffee company's stock, valued at approximately $1,617,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks during the fourth quarter valued at approximately $285,000. Czech National Bank grew its holdings in shares of Starbucks by 6.2% during the first 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 grew its holdings in shares of Starbucks by 125.5% during the first 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. Treasurer of the State of North Carolina grew its holdings in shares of Starbucks by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock valued at $45,489,000 after purchasing an additional 3,130 shares during the last quarter. Finally, Norden Group LLC grew its holdings in shares of Starbucks by 66.1% during the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock valued at $2,964,000 after purchasing an additional 12,027 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $2.30 on Friday, reaching $86.86. 16,215,272 shares of the company traded hands, compared to its average volume of 10,280,721. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The company's 50 day moving average is $91.73 and its 200-day moving average is $94.58. The stock has a market capitalization of $98.73 billion, a PE ratio of 37.44, a P/E/G ratio of 5.08 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the company posted $0.93 EPS. Starbucks's revenue was up 3.8% on a year-over-year basis. As a group, 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. Shareholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. 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 payout ratio is 105.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBUX shares. CICC Research started coverage on Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. Morgan Stanley reissued an "overweight" rating and issued a $103.00 price objective (up from $95.00) on shares of Starbucks in a report on Wednesday. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. JPMorgan Chase & Co. increased their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.