22,815 Shares in Starbucks Corporation (NASDAQ:SBUX) Purchased by Donoghue Forlines LLC

Key Points

• Donoghue Forlines LLC has acquired a new stake in Starbucks Corporation worth approximately $2.24 million, purchasing 22,815 shares.
• Starbucks missed its earnings expectations for the last quarter, reporting $0.50 earnings per share against a consensus estimate of $0.64.
• The company announced a quarterly dividend of $0.61 per share, set to be paid on August 29th, contributing to an annualized dividend yield of 2.6%.

Donoghue Forlines LLC bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,815 shares of the coffee company's stock, valued at approximately $2,238,000.

Other institutional investors have also added to or reduced their stakes in 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 worth $10,991,923,000 after buying an additional 953,361 shares during the last quarter. Capital World Investors boosted its stake in shares of Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after buying an additional 9,174,682 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 worth $1,238,567,000 after buying an additional 600,151 shares during the last quarter. Capital International Investors boosted its stake in shares of Starbucks by 2.7% in the 4th quarter. Capital International Investors now owns 10,191,918 shares of the coffee company's stock worth $929,898,000 after buying an additional 267,736 shares during the last quarter. Finally, 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 worth $943,948,000 after buying an additional 3,589,537 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.2%

NASDAQ:SBUX traded up $1.10 on Friday, reaching $92.12. 8,032,266 shares of the company's stock traded hands, compared to its average volume of 11,662,578. Starbucks Corporation has a 12 month low of $74.75 and a 12 month high of $117.46. The stock has a 50-day simple moving average of $92.27 and a 200-day simple moving average of $94.37. The firm has a market cap of $104.71 billion, a PE ratio of 39.71, a P/E/G ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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 period last year, the firm posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is 105.17%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 price target on the stock. Cowen reaffirmed a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of "Hold" and a consensus target price of $101.27.

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.