Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,106 shares of the coffee company’s stock after buying an additional 41,849 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Starbucks were worth $38,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hager Investment Management Services LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $56,000. Retirement Systems of Alabama lifted its position in Starbucks by 224.6% during the 4th quarter. Retirement Systems of Alabama now owns 791,931 shares of the coffee company’s stock worth $72,264,000 after acquiring an additional 547,967 shares in the last quarter. Tranquilli Financial Advisor LLC lifted its position in Starbucks by 13.0% during the 4th quarter. Tranquilli Financial Advisor LLC now owns 3,933 shares of the coffee company’s stock worth $359,000 after acquiring an additional 451 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in Starbucks by 10.5% during the 4th quarter. E. Ohman J or Asset Management AB now owns 50,400 shares of the coffee company’s stock worth $4,599,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Mather Group LLC. lifted its position in Starbucks by 2.8% during the 4th quarter. Mather Group LLC. now owns 13,237 shares of the coffee company’s stock worth $1,208,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.3 %

Shares of NASDAQ SBUX opened at $110.60 on Wednesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $111.07. The company has a market cap of $125.63 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 3.40 and a beta of 1.00. The business has a fifty day simple moving average of $96.31 and a 200-day simple moving average of $93.85.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 78.71%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $105.33.

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.