ASR Vermogensbeheer N.V. Purchases New Shares in Starbucks Corporation (NASDAQ:SBUX)

ASR Vermogensbeheer N.V. purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) in the first quarter, Holdings Channel.com reports. The fund purchased 87,666 shares of the coffee company’s stock, valued at approximately $8,599,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Brighton Jones LLC raised its position in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Starbucks in the 4th quarter valued at $602,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in Starbucks by 5.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,230 shares of the coffee company’s stock valued at $1,116,000 after buying an additional 678 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Starbucks by 6.2% during the 4th quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company’s stock valued at $486,000 after purchasing an additional 311 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Starbucks by 19.2% during the 4th quarter. FIL Ltd now owns 1,088,609 shares of the coffee company’s stock valued at $99,336,000 after purchasing an additional 175,294 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBUX. Guggenheim raised their target price on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Bank of America raised their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. UBS Group raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.27.

Starbucks Stock Down 1.3%

Shares of NASDAQ SBUX opened at $88.99 on Thursday. Starbucks Corporation has a 52 week low of $74.75 and a 52 week high of $117.46. The business has a 50-day simple moving average of $91.96 and a two-hundred day simple moving average of $94.48. The company has a market cap of $101.15 billion, a P/E ratio of 38.36, a P/E/G ratio of 5.14 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given 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 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.