Landscape Capital Management L.L.C. Buys 27,868 Shares of Starbucks Corporation $SBUX

Key Points

• Landscape Capital Management L.L.C. significantly increased its stake in Starbucks Corporation by 679.4% during the first quarter, now owning 31,970 shares valued at approximately $3.14 million.
• The company reported $0.50 earnings per share for the latest quarter, missing estimates of $0.64, although revenues were $9.46 billion, above the forecast of $9.29 billion.
• Starbucks recently declared a $0.61 per share dividend with an annualized yield of 2.8%, despite a high payout ratio of 105.17%.

Landscape Capital Management L.L.C. boosted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 679.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,970 shares of the coffee company's stock after buying an additional 27,868 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Starbucks were worth $3,136,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBUX. Brighton Jones LLC raised its stake in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks in the fourth quarter valued at $32,000. Rehmann Capital Advisory Group increased its stake in shares of Starbucks by 6.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 11,451 shares of the coffee company's stock valued at $1,045,000 after buying an additional 664 shares in the last quarter. FAS Wealth Partners Inc. raised its stake in shares of Starbucks by 9.4% in the fourth quarter. FAS Wealth Partners Inc. now owns 34,106 shares of the coffee company's stock worth $3,112,000 after acquiring an additional 2,921 shares during the last quarter. Finally, Blue Rock Wealth Management LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $253,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 0.4%

Shares of SBUX opened at $88.02 on Friday. The stock has a market cap of $100.05 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 5.20 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock's 50-day moving average price is $92.06 and its two-hundred day moving average price is $92.86.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly 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 firm had revenue of $9.46 billion during the quarter, compared to analyst estimates 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 was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is presently 105.17%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen lifted their target price on Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating and issued a $103.00 price target (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Company 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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