Starbucks Corporation (NASDAQ:SBUX) Shares Purchased by TCW Group Inc.

Key Points

• TCW Group Inc. increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 8.7%, holding 40,927 shares valued at approximately $4,015,000 as of the end of the most recent reporting period.
• Starbucks reported $0.41 earnings per share for the last quarter, falling short of the consensus estimate of $0.51, while quarterly revenue also missed expectations at $8.76 billion.
• The company declared a quarterly dividend of $0.61 per share, with a dividend yield of 2.58%, scheduled for distribution on August 29th.

TCW Group Inc. raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,927 shares of the coffee company's stock after buying an additional 3,284 shares during the period. TCW Group Inc.'s holdings in Starbucks were worth $4,015,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew 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 buying an additional 81,952 shares in the last quarter. RiverFront Investment Group LLC grew its position in Starbucks by 9.0% in the fourth quarter. RiverFront Investment Group LLC now owns 5,319 shares of the coffee company's stock valued at $485,000 after acquiring an additional 440 shares in the last quarter. Allstate Corp purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $3,069,000. Allianz SE acquired a new position in shares of Starbucks during the fourth quarter worth $406,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Starbucks during the fourth quarter worth $602,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.8%

NASDAQ SBUX opened at $94.42 on Monday. The company has a 50-day moving average price of $91.05 and a two-hundred day moving average price of $94.66. Starbucks Corporation has a 52 week low of $72.72 and a 52 week high of $117.46. The stock has a market cap of $107.30 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 6.55 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business's quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. Starbucks's payout ratio is 88.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Securities reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Barclays reduced their price target on Starbucks from $108.00 to $106.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 17th. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, UBS Group restated a "neutral" rating on shares of Starbucks in a research note on Monday, July 21st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $98.58.

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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