Versor Investments LP Acquires Shares of 8,808 Starbucks Corporation $SBUX

Key Points

• Versor Investments LP has acquired 8,808 shares of Starbucks Corporation (SBUX), valued at approximately $864,000, during the first quarter.
• Starbucks recently reported earnings of $0.50 per share, missing analyst expectations, but had a revenue of $9.46 billion, which exceeded forecasts.
• The company announced a quarterly dividend of $0.61 per share, which represents a 2.6% dividend yield and has a payout ratio of 105.17%.

Versor Investments LP acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,808 shares of the coffee company's stock, valued at approximately $864,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC boosted its stake in Starbucks by 1.1% during the 1st quarter. Freestone Capital Holdings LLC now owns 58,022 shares of the coffee company's stock valued at $5,691,000 after acquiring an additional 625 shares during the last quarter. Corient IA LLC bought a new position in shares of Starbucks in the 1st quarter worth about $245,000. Steward Partners Investment Advisory LLC lifted its position in shares of Starbucks by 8.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 143,648 shares of the coffee company's stock worth $14,090,000 after buying an additional 11,097 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Starbucks by 11.5% in the 1st quarter. Raymond James Financial Inc. now owns 3,474,457 shares of the coffee company's stock worth $340,810,000 after buying an additional 359,024 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position in shares of Starbucks by 2.7% in the 1st quarter. Cresset Asset Management LLC now owns 74,853 shares of the coffee company's stock worth $7,342,000 after buying an additional 1,941 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Evercore ISI restated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Barclays raised their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating and issued a $103.00 price target (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets restated an "outperform" rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $103.65.

Starbucks Price Performance

Starbucks stock opened at $92.54 on Tuesday. The firm's 50 day simple moving average is $92.83 and its 200-day simple moving average is $93.88. The company has a market cap of $105.19 billion, a P/E ratio of 39.89, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend 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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