Vinva Investment Management Ltd Has $3.33 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Vinva Investment Management Ltd lifted its position in Starbucks Co. (NASDAQ:SBUX) by 323.5% during the third quarter, HoldingsChannel.com reports. The fund owned 34,195 shares of the coffee company’s stock after purchasing an additional 26,120 shares during the period. Vinva Investment Management Ltd’s holdings in Starbucks were worth $3,329,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC raised its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays dropped their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Shares of SBUX opened at $101.51 on Friday. The firm has a market cap of $115.09 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm’s 50-day simple moving average is $97.50 and its 200 day simple moving average is $87.74.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.