Banque Transatlantique SA Acquires 12,254 Shares of Starbucks Corporation $SBUX

Key Points

• Banque Transatlantique SA increased its holdings in Starbucks by 848.6%, acquiring an additional 12,254 shares during Q1, bringing its total to 13,698 shares valued at $1.24 million.
• Starbucks reported quarterly earnings of $0.50 per share, missing analysts' estimates of $0.64, despite revenue of $9.46 billion exceeding expectations of $9.29 billion.
• The company declared a quarterly dividend of $0.61, translating to an annualized yield of 2.8%, amidst a dividend payout ratio of 105.17%.

Banque Transatlantique SA lifted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 848.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,698 shares of the coffee company's stock after acquiring an additional 12,254 shares during the quarter. Banque Transatlantique SA's holdings in Starbucks were worth $1,242,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks in the fourth quarter worth $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks in the first quarter worth about $27,000. McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks in the first quarter worth about $29,000. Activest Wealth Management lifted its stake in shares of Starbucks by 78.0% in the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new stake in Starbucks during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 2.8%

Shares of NASDAQ SBUX opened at $87.25 on Thursday. The firm's 50-day moving average price is $91.77 and its 200-day moving average price is $92.19. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The company has a market cap of $99.18 billion, a PE ratio of 37.61, a PEG ratio of 5.23 and a beta of 1.00.

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

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.8%. Starbucks's dividend payout ratio is presently 105.17%.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. Evercore ISI reaffirmed 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. Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday, August 12th. Barclays boosted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Cowen restated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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.

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