Federation des caisses Desjardins du Quebec Raises Stock Holdings in Starbucks Corporation $SBUX

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Starbucks by 12.3% during the first quarter, owning 93,471 shares valued at approximately $9.17 million.
• Starbucks reported $0.50 earnings per share for the last quarter, missing expectations by $0.14, while revenue was up 3.8% year-over-year at $9.46 billion.
• The company announced a quarterly dividend of $0.61 per share, with an annualized payout of $2.44 and a yield of 2.8%, despite a payout ratio of 105.17%.

Federation des caisses Desjardins du Quebec lifted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,471 shares of the coffee company's stock after buying an additional 10,251 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Starbucks were worth $9,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TrinityPoint Wealth LLC raised its holdings in shares of Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after buying an additional 89 shares during the period. Benin Management CORP increased its holdings in Starbucks by 0.7% during the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock worth $1,626,000 after purchasing an additional 120 shares during the period. Ted Buchan & Co increased its holdings in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock worth $791,000 after purchasing an additional 120 shares during the period. Alexander Labrunerie & CO. Inc. increased its holdings in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock worth $349,000 after purchasing an additional 122 shares during the period. Finally, Guardian Wealth Advisors LLC NC increased its holdings in Starbucks by 2.3% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 5,388 shares of the coffee company's stock worth $492,000 after purchasing an additional 123 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $87.25 on Thursday. The stock has a market capitalization of $99.18 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 5.23 and a beta of 1.00. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The business has a fifty day moving average price of $91.77 and a 200-day moving average price of $92.19.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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 business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Cowen restated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Bank of America increased their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein increased their target price on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

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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