Starbucks Corporation $SBUX Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Starbucks Corporation by 40.0% during the 1st quarter, now owning approximately 726,702 shares valued at $71.28 million.
• Starbucks reported a quarterly EPS of $0.50, missing estimates by $0.14, while revenue for the quarter was $9.46 billion, exceeding estimates of $9.29 billion.
• The company announced a quarterly dividend of $0.61 payable on August 29th, representing an annual yield of 2.8% with a dividend payout ratio of 105.17%.

Caisse DE Depot ET Placement DU Quebec increased its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 40.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 726,702 shares of the coffee company's stock after acquiring an additional 207,502 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Starbucks worth $71,282,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. TrinityPoint Wealth LLC lifted its stake in shares of Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares during the period. Benin Management CORP raised its position in shares of Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock worth $1,626,000 after buying an additional 120 shares during the period. Ted Buchan & Co raised its position in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock worth $791,000 after buying an additional 120 shares during the period. Alexander Labrunerie & CO. Inc. raised its position in shares of Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock worth $349,000 after buying an additional 122 shares during the period. Finally, Guardian Wealth Advisors LLC NC raised its position in shares of Starbucks by 2.3% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 5,388 shares of the coffee company's stock worth $492,000 after buying an additional 123 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBUX. Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. Morgan Stanley restated an "overweight" rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Citigroup reduced their price objective on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Guggenheim boosted their price objective on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Price Performance

Shares of Starbucks stock opened at $85.81 on Tuesday. The business has a 50-day moving average of $92.34 and a 200-day moving average of $93.10. The company has a market capitalization of $97.54 billion, a PE ratio of 36.99, a P/E/G ratio of 5.25 and a beta of 1.02. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 negative return on equity of 36.23% and a net margin of 7.18%.The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. On average, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 (DPR) is 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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