FORA Capital LLC Takes Position in Starbucks Corporation $SBUX

Key Points

• FORA Capital LLC has acquired a new stake in Starbucks, purchasing 40,752 shares valued at approximately $3.997 million in the first quarter.
• Starbucks will pay a quarterly dividend of $0.61 on August 29th, representing an annualized payout of $2.44 and a yield of 2.8%.
• In its latest earnings report, Starbucks reported $0.50 EPS, missing analysts' expectations, while achieving revenue of $9.46 billion, exceeding estimates of $9.29 billion.

FORA Capital LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 40,752 shares of the coffee company's stock, valued at approximately $3,997,000.

A number of other hedge funds have also recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Starbucks by 40.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 726,702 shares of the coffee company's stock valued at $71,282,000 after acquiring an additional 207,502 shares during the period. Soros Capital Management LLC grew its position in shares of Starbucks by 292.6% during the 1st quarter. Soros Capital Management LLC now owns 26,070 shares of the coffee company's stock valued at $2,557,000 after acquiring an additional 19,430 shares during the period. Freedom Investment Management Inc. bought a new stake in shares of Starbucks during the 1st quarter valued at $299,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $240,000. Finally, ICONIQ Capital LLC grew its position in shares of Starbucks by 24.0% during the 1st quarter. ICONIQ Capital LLC now owns 4,112 shares of the coffee company's stock valued at $403,000 after acquiring an additional 796 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 2.9%

Shares of NASDAQ:SBUX opened at $85.81 on Tuesday. The company has a market capitalization of $97.54 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 5.25 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm's 50-day moving average is $92.34 and its 200 day moving average is $93.10.

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

Starbucks Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Guggenheim lifted their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Barclays lifted their target price on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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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