Aberdeen Group plc Grows Position in Starbucks Corporation (NASDAQ:SBUX)

Aberdeen Group plc increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 99.4% in the first quarter, Holdings Channel reports. The fund owned 927,984 shares of the coffee company’s stock after purchasing an additional 462,508 shares during the quarter. Aberdeen Group plc’s holdings in Starbucks were worth $90,413,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Liontrust Investment Partners LLP purchased a new stake in Starbucks in the first quarter worth about $14,112,000. Dimensional Fund Advisors LP lifted its stake in Starbucks by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,828,950 shares of the coffee company’s stock worth $277,466,000 after acquiring an additional 39,705 shares during the period. Horizon Investments LLC lifted its stake in Starbucks by 4.7% in the first quarter. Horizon Investments LLC now owns 26,900 shares of the coffee company’s stock worth $2,639,000 after acquiring an additional 1,198 shares during the period. Fox Run Management L.L.C. purchased a new stake in Starbucks in the first quarter worth about $998,000. Finally, Vestmark Advisory Solutions Inc. lifted its stake in Starbucks by 116.4% in the first quarter. Vestmark Advisory Solutions Inc. now owns 72,314 shares of the coffee company’s stock worth $7,093,000 after acquiring an additional 38,900 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Bank of America boosted their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Wells Fargo & Company boosted their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Barclays boosted their target price on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $103.65.

Starbucks Trading Down 2.6%

Starbucks stock opened at $90.60 on Friday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock’s 50 day simple moving average is $92.80 and its two-hundred day simple moving average is $94.19. The firm has a market cap of $102.99 billion, a PE ratio of 39.05, a P/E/G ratio of 5.47 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its 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 last year, the business earned $0.93 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm 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 dividend of $0.61 per share. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.