Starbucks Corporation $SBUX Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Starbucks Corporation by 47.2%, owning 138,167 shares valued at $13.33 million after acquiring 44,272 additional shares in the first quarter.
• Starbucks reported earnings per share (EPS) of $0.50 for the last quarter, missing consensus estimates of $0.64, while revenue reached $9.46 billion, exceeding expectations of $9.29 billion.
• The company announced a quarterly dividend of $0.61 per share, yielding 2.9%, although its payout ratio is notably high at 105.17%.

AQR Capital Management LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,167 shares of the coffee company's stock after purchasing an additional 44,272 shares during the quarter. AQR Capital Management LLC's holdings in Starbucks were worth $13,330,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. TrinityPoint Wealth LLC increased its stake in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after purchasing an additional 89 shares during the period. Benin Management CORP increased its position in Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after acquiring an additional 120 shares during the period. Ted Buchan & Co increased its position in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after acquiring an additional 120 shares during the period. Alexander Labrunerie & CO. Inc. raised its stake in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after acquiring an additional 122 shares during the last quarter. Finally, Private Wealth Management Group LLC lifted its position in Starbucks by 13.3% during the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company's stock worth $104,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Cowen reaffirmed a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, UBS Group boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" 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 given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks Trading Down 0.4%

SBUX stock opened at $83.81 on Wednesday. The company's 50-day moving average price is $91.17 and its 200 day moving average price is $91.29. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a market cap of $95.27 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.01 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.93 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 15th. Starbucks's payout ratio is presently 105.17%.

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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