Credit Agricole S A Grows Position in Starbucks Corporation $SBUX

Key Points

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Credit Agricole S A boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 132.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 416,885 shares of the coffee company's stock after purchasing an additional 237,371 shares during the period. Credit Agricole S A's holdings in Starbucks were worth $40,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the fourth quarter valued at $25,000. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter valued at $27,000. McClarren Financial Advisors Inc. purchased a new position in Starbucks during the first quarter valued at $29,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks during the fourth quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of Starbucks in the fourth quarter valued at about $41,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BMO Capital Markets restated an "outperform" rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Bank of America boosted their price objective on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Cowen restated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a research report on Thursday, July 17th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus target price of $103.65.

Starbucks Stock Up 2.1%

Starbucks stock opened at $92.54 on Tuesday. The business has a fifty day moving average of $92.83 and a two-hundred day moving average of $93.88. The firm has a market cap of $105.19 billion, a P/E ratio of 39.89, a P/E/G ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results 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 analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Starbucks 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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