Nomura Asset Management Co. Ltd. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Nomura Asset Management Co. Ltd. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,981 shares of the coffee company’s stock after buying an additional 14,703 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Starbucks were worth $32,738,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its stake in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the period. Cypress Capital Management LLC WY boosted its stake in shares of Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares during the period. Atticus Wealth Management LLC boosted its position in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the period. Evolution Advisers Inc. acquired a new position in Starbucks during the 4th quarter worth $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Starbucks in the 4th quarter valued at about $38,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SBUX shares. Citigroup cut their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. UBS Group reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group lowered their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley lowered their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and reduced their target price for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Hold” and an average target price of $96.43.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.56 during mid-day trading on Friday, hitting $78.87. 10,746,166 shares of the company traded hands, compared to its average volume of 17,810,700. The firm has a market cap of $89.34 billion, a P/E ratio of 21.73, a PEG ratio of 1.72 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The firm’s 50 day simple moving average is $84.08 and its 200 day simple moving average is $91.79.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS. Equities research analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.89%. Starbucks’s payout ratio is 62.81%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,750 shares of company stock valued at $642,050. Company insiders own 1.98% of the company’s stock.

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.