Asset Management One Co. Ltd. Has $41.92 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Asset Management One Co. Ltd. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 429,995 shares of the coffee company’s stock after selling 517 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Starbucks were worth $41,920,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. National Pension Service increased its holdings in Starbucks by 9.3% during the 3rd quarter. National Pension Service now owns 2,219,465 shares of the coffee company’s stock worth $216,376,000 after purchasing an additional 188,693 shares in the last quarter. Silicon Valley Capital Partners increased its holdings in Starbucks by 7.9% during the 3rd quarter. Silicon Valley Capital Partners now owns 132,557 shares of the coffee company’s stock worth $12,923,000 after purchasing an additional 9,714 shares in the last quarter. Cohen Capital Management Inc. bought a new position in Starbucks during the 3rd quarter worth about $224,000. Chaney Capital Management Inc. increased its holdings in Starbucks by 32.9% during the 3rd quarter. Chaney Capital Management Inc. now owns 10,423 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Vestor Capital LLC increased its holdings in Starbucks by 42.8% during the 3rd quarter. Vestor Capital LLC now owns 2,605 shares of the coffee company’s stock worth $254,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $97.03 on Tuesday. The firm’s fifty day moving average price is $96.00 and its two-hundred day moving average price is $85.53. The stock has a market cap of $109.95 billion, a PE ratio of 29.31, a PEG ratio of 3.17 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.22 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s payout ratio is presently 68.88%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several analyst reports. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, October 23rd. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

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.