Venator Management LLC Raises Stock Holdings in Starbucks Corporation $SBUX

Key Points

• Venator Management LLC increased its holdings in Starbucks Corporation by 11.0%, owning 81,835 shares worth approximately $8 million, making it the company's 14th largest shareholder.
• Starbucks recently reported a quarterly EPS of $0.50, missing estimates of $0.64, while revenue increased by 3.8% year-over-year to $9.46 billion.
• The company declared a quarterly dividend of $0.61, with a payout ratio of 105.17%, indicating a strong commitment to returning value to shareholders.

Venator Management LLC increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,835 shares of the coffee company's stock after acquiring an additional 8,085 shares during the period. Starbucks makes up about 2.4% of Venator Management LLC's portfolio, making the stock its 14th biggest holding. Venator Management LLC's holdings in Starbucks were worth $8,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors purchased a new position in Starbucks in the 4th quarter worth $285,000. Czech National Bank lifted its position in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares during the period. Personal CFO Solutions LLC boosted its stake in shares of Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the last quarter. Norden Group LLC boosted its stake in shares of Starbucks by 66.1% in the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company's stock worth $2,964,000 after buying an additional 12,027 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Starbucks in the first quarter worth about $998,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 1.6%

SBUX opened at $89.51 on Thursday. The company has a market cap of $101.75 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 5.34 and a beta of 1.02. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a 50-day moving average price of $92.70 and a 200 day moving average price of $93.83.

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 analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The firm's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler set a $105.00 target price on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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