Starbucks Corporation $SBUX Shares Acquired by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Starbucks Corporation by 2.4%, acquiring an additional 9,900 shares, bringing its total holdings to 424,600 shares valued at approximately $38.9 million.
• Starbucks reported a quarterly EPS of $0.50, which was below the consensus estimate of $0.64, despite revenue of $9.46 billion beating expectations.
• The company also announced a quarterly dividend of $0.61 per share, resulting in a 2.9% dividend yield and a payout ratio of 105.17%.

Mn Services Vermogensbeheer B.V. increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,600 shares of the coffee company's stock after acquiring an additional 9,900 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Starbucks were worth $38,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Napa Wealth Management acquired a new stake in shares of Starbucks in the 1st quarter worth approximately $1,435,000. Czech National Bank grew its holdings in shares of Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares during the period. Personal CFO Solutions LLC grew its holdings in Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares during the last quarter. First Manhattan CO. LLC. grew its holdings in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after buying an additional 111,015 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Starbucks during the 1st quarter valued at $998,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 1.4%

Shares of SBUX opened at $83.22 on Thursday. The stock's fifty day simple moving average is $89.78 and its 200 day simple moving average is $90.15. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The firm has a market capitalization of $94.60 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 5.04 and a beta of 1.00.

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

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.9%. Starbucks's dividend payout ratio (DPR) is 105.17%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBUX. Bank of America increased their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a report on Friday, July 18th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. Wells Fargo & Company increased their target price on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada increased their target price on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and an average target price of $104.40.

About Starbucks

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.