Raiffeisen Bank International AG Buys 2,405 Shares of Starbucks Corporation (NASDAQ:SBUX)

Raiffeisen Bank International AG grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 30.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,246 shares of the coffee company’s stock after buying an additional 2,405 shares during the period. Raiffeisen Bank International AG’s holdings in Starbucks were worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SBUX. Avalon Trust Co lifted its holdings in shares of Starbucks by 5.5% during the first quarter. Avalon Trust Co now owns 2,384 shares of the coffee company’s stock valued at $234,000 after purchasing an additional 124 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Starbucks by 2.9% in the 1st quarter. Manchester Capital Management LLC now owns 9,328 shares of the coffee company’s stock worth $915,000 after buying an additional 263 shares during the period. Scotia Capital Inc. increased its holdings in Starbucks by 3.1% in the 1st quarter. Scotia Capital Inc. now owns 274,683 shares of the coffee company’s stock valued at $26,944,000 after acquiring an additional 8,157 shares during the last quarter. Cheviot Value Management LLC bought a new stake in Starbucks in the 1st quarter valued at $98,000. Finally, J. Safra Sarasin Holding AG bought a new position in Starbucks during the first quarter valued at $320,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 3.4%

Shares of NASDAQ SBUX opened at $89.78 on Tuesday. The stock has a market cap of $102.05 billion, a price-to-earnings ratio of 38.70, a P/E/G ratio of 4.95 and a beta of 1.02. Starbucks Corporation has a 1-year low of $72.72 and a 1-year high of $117.46. The stock’s 50-day moving average is $91.83 and its 200 day moving average is $94.55.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (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 for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Sanford C. Bernstein lifted their target price on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. TD Securities reaffirmed a “hold” rating and set a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. UBS Group raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.27.

Starbucks 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.