Quantinno Capital Management LP Buys 529,086 Shares of Starbucks Corporation $SBUX

Key Points

• Quantinno Capital Management more than doubled its Starbucks stake by purchasing 529,086 additional shares, bringing its holdings to 1.03 million shares valued at approximately $92.2 million.
• Institutional investors own 72.29% of Starbucks, with several major funds—including Norges Bank, T. Rowe Price and Capital World Investors—also increasing their positions.
• Analysts maintain a “Moderate Buy” consensus with a $109.42 target price. Starbucks recently exceeded quarterly earnings and revenue estimates and declared a $0.62 quarterly dividend, yielding about 2.4%.

Quantinno Capital Management LP increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 105.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,029,531 shares of the coffee company's stock after buying an additional 529,086 shares during the period. Quantinno Capital Management LP owned 0.09% of Starbucks worth $92,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Starbucks in the fourth quarter worth about $1,232,650,000. T. Rowe Price Investment Management Inc. raised its position in Starbucks by 65.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company's stock valued at $1,637,704,000 after purchasing an additional 7,725,547 shares during the period. Capital World Investors raised its position in Starbucks by 9.0% during the fourth quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock valued at $7,135,228,000 after purchasing an additional 7,007,268 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Starbucks by 146.6% in the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company's stock valued at $553,201,000 after purchasing an additional 3,596,014 shares during the last quarter. Finally, Amundi lifted its stake in shares of Starbucks by 57.1% in the 4th quarter. Amundi now owns 4,532,627 shares of the coffee company's stock valued at $381,693,000 after purchasing an additional 1,647,292 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $104.00, for a total transaction of $231,816.00. Following the transaction, the chief executive officer directly owned 77,364 shares in the company, valued at $8,045,856. This represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,000 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. Following the transaction, the executive vice president directly owned 57,653 shares in the company, valued at $6,053,565. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 8,687 shares of company stock valued at $889,033. 0.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. Royal Bank Of Canada downgraded Starbucks from a "sector perform" rating to a "positive" rating in a research report on Thursday, May 14th. Citizens Jmp initiated coverage on Starbucks in a research report on Monday, March 30th. They issued an "underperform" rating and a $84.00 price target for the company. Jefferies Financial Group began coverage on shares of Starbucks in a research note on Thursday, May 14th. They set a "buy" rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, DA Davidson increased their target price on shares of Starbucks from $97.00 to $102.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Nineteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.42.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $103.65 on Tuesday. The firm's 50 day simple moving average is $102.27 and its 200-day simple moving average is $98.69. Starbucks Corporation has a one year low of $77.99 and a one year high of $109.23. The firm has a market cap of $118.13 billion, a PE ratio of 78.52, a price-to-earnings-growth ratio of 2.05 and a beta of 0.98.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. The firm had revenue of $9.53 billion during the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.Starbucks's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. Equities research analysts predict that Starbucks Corporation will post 2.41 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Starbucks's payout ratio is presently 187.88%.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks' core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.

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