Starbucks Corporation $SBUX Shares Bought by Federation des caisses Desjardins du Quebec

Federation des caisses Desjardins du Quebec boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 93,471 shares of the coffee company’s stock after acquiring an additional 10,251 shares during the quarter. Federation des caisses Desjardins du Quebec’s holdings in Starbucks were worth $9,169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks during the 1st quarter valued at about $29,000. Activest Wealth Management raised its stake in shares of Starbucks by 78.0% during the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Starbucks during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. TD Cowen lifted their price objective on Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research note on Thursday, July 17th. Barclays lifted their price target on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Finally, UBS Group lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Trading Down 2.8%

SBUX stock opened at $87.25 on Thursday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market cap of $99.18 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 5.23 and a beta of 1.00. The business’s 50-day moving average is $91.77 and its 200 day moving average is $92.19.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm 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 firm posted $0.93 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 15th. Starbucks’s payout ratio is presently 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.