Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Starbucks Corporation $SBUX

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Starbucks Corporation, purchasing 3,639 shares valued at approximately $357,000 in Q1.
• Major institutional investors, including Vanguard Group and Goldman Sachs, have also increased their holdings in Starbucks, indicating strong institutional interest in the coffee company.
• Starbucks recently declared a quarterly dividend of $0.61 per share, with an annualized yield of 2.7%, despite a dividend payout ratio of over 105%.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,639 shares of the coffee company's stock, valued at approximately $357,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Starbucks by 4.6% in the 4th quarter. Northern Trust Corp now owns 13,573,337 shares of the coffee company's stock valued at $1,238,567,000 after purchasing an additional 600,151 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Starbucks in the 1st quarter valued at $817,759,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Starbucks by 25.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,893,188 shares of the coffee company's stock valued at $720,253,000 after purchasing an additional 1,599,140 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays boosted their target price 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 reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Loop Capital set a $165.00 target price on shares of Starbucks in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.65.

Starbucks Price Performance

NASDAQ SBUX opened at $90.93 on Wednesday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a market cap of $103.36 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 5.43 and a beta of 1.02. The company has a fifty day moving average price of $92.82 and a 200-day moving average price of $93.86.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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 quarter in the previous year, the company earned $0.93 EPS. The business's revenue was up 3.8% compared to the same quarter last year. On average, 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 will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.7%. Starbucks's dividend payout ratio is presently 105.17%.

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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