Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,753 shares of the coffee company’s stock after purchasing an additional 2,200 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Starbucks were worth $3,486,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Dakota Wealth Management increased its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the last quarter. Weil Company Inc. raised its position in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC raised its position in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares in the last quarter. LRI Investments LLC bought a new position in Starbucks during the first quarter worth $136,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Starbucks by 3.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 220,529 shares of the coffee company’s stock worth $21,499,000 after purchasing an additional 8,151 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.0 %

Shares of NASDAQ:SBUX traded down $0.04 during trading on Thursday, hitting $99.76. 387,702 shares of the company were exchanged, compared to its average volume of 11,134,286. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $113.05 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. The business’s 50 day moving average is $96.45 and its 200-day moving average is $86.03.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.45%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBUX shares. Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Bank of America decreased their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.31.

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.