Daiwa Securities Group Inc. Buys 9,965 Shares of Starbucks Co. (NASDAQ:SBUX)

Daiwa Securities Group Inc. increased its stake in Starbucks Co. (NASDAQ:SBUXFree Report) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,206 shares of the coffee company’s stock after buying an additional 9,965 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Starbucks were worth $16,082,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Beaumont Financial Advisors LLC lifted its position in Starbucks by 4.4% in the third quarter. Beaumont Financial Advisors LLC now owns 4,355 shares of the coffee company’s stock worth $398,000 after buying an additional 183 shares during the last quarter. AIA Group Ltd lifted its position in Starbucks by 22.0% in the third quarter. AIA Group Ltd now owns 35,266 shares of the coffee company’s stock worth $3,219,000 after buying an additional 6,349 shares during the last quarter. Verus Capital Partners LLC lifted its position in Starbucks by 6.7% in the third quarter. Verus Capital Partners LLC now owns 16,146 shares of the coffee company’s stock worth $1,474,000 after buying an additional 1,016 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in Starbucks by 7.0% in the third quarter. New Mexico Educational Retirement Board now owns 59,698 shares of the coffee company’s stock worth $5,449,000 after buying an additional 3,900 shares during the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in Starbucks by 10.3% in the third quarter. Trifecta Capital Advisors LLC now owns 27,557 shares of the coffee company’s stock worth $2,515,000 after buying an additional 2,570 shares during the last quarter. 70.13% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $91.77 on Thursday. The company has a market cap of $104.31 billion, a PE ratio of 25.63, a P/E/G ratio of 1.36 and a beta of 0.98. Starbucks Co. has a 52-week low of $89.21 and a 52-week high of $115.48. The firm’s 50 day moving average price is $97.91 and its 200-day moving average price is $97.36.

Starbucks (NASDAQ:SBUXGet Free Report) last announced its earnings results on Thursday, November 2nd. The coffee company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.09. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. Starbucks’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. On average, analysts forecast that Starbucks Co. will post 4.13 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.28 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio (DPR) is 63.69%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total value of $681,005.00. Following the completion of the sale, the insider now directly owns 72,822 shares in the company, valued at $7,629,560.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 504 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total value of $53,252.64. Following the completion of the transaction, the chief financial officer now owns 75,027 shares of the company’s stock, valued at $7,927,352.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Aaron Conway sold 6,500 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total transaction of $681,005.00. Following the transaction, the insider now directly owns 72,822 shares of the company’s stock, valued at approximately $7,629,560.94. The disclosure for this sale can be found here. Insiders sold a total of 7,504 shares of company stock worth $784,120 over the last three months. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBUX. Morgan Stanley upgraded Starbucks from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $112.00 to $120.00 in a research report on Tuesday. HSBC assumed coverage on shares of Starbucks in a research report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective for the company. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday. Jefferies Financial Group dropped their target price on shares of Starbucks from $107.00 to $100.00 in a research note on Tuesday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Starbucks in a research note on Thursday, October 19th. They issued a “buy” rating and a $118.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

Check Out Our Latest Research Report on SBUX

Starbucks Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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