TD Asset Management Inc Has $279.07 Million Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• TD Asset Management Inc increased its stake in Starbucks by 36.4%, acquiring an additional 759,991 shares, bringing its total to 2,845,018 shares valued at approximately $279 million.
• Starbucks reported a missed earnings expectation for the last quarter, with an EPS of $0.41 compared to the consensus estimate of $0.51, while quarterly revenue increased by 2.3% year-over-year.
• The company announced a quarterly dividend of $0.61 per share, with a payout ratio currently at 88.41% and an annualized yield of 2.58% for shareholders of record.

TD Asset Management Inc increased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 36.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,845,018 shares of the coffee company's stock after acquiring an additional 759,991 shares during the quarter. TD Asset Management Inc owned 0.25% of Starbucks worth $279,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks in the fourth quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the 1st quarter worth $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks during the 4th quarter worth $32,000. Ball & Co Wealth Management Inc. acquired a new position in Starbucks during the 4th quarter valued at $41,000. Finally, Accredited Wealth Management LLC acquired a new position in Starbucks during the 4th quarter valued at $44,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.4%

Shares of NASDAQ:SBUX traded up $0.41 during mid-day trading on Wednesday, reaching $93.37. The stock had a trading volume of 33,339,408 shares, compared to its average volume of 10,508,946. The firm has a market cap of $106.10 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 6.48 and a beta of 1.02. The firm has a 50 day simple moving average of $91.38 and a two-hundred day simple moving average of $94.66. Starbucks Corporation has a twelve month low of $72.72 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 net margin of 8.61% and a negative return on equity of 42.14%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.61%. Starbucks's dividend payout ratio (DPR) is currently 88.41%.

Analyst Ratings Changes

Several research firms recently commented on SBUX. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday. TD Cowen increased their price objective on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday. Royal Bank Of Canada increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday. Barclays increased their price objective on shares of Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Bank of America upped their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $101.00.

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.