Meiji Yasuda Life Insurance Co Has $643,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Meiji Yasuda Life Insurance Co reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 33.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,037 shares of the coffee company’s stock after selling 3,601 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Starbucks were worth $643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First National Trust Co increased its stake in Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after buying an additional 106 shares during the last quarter. Graybill Wealth Management LTD. boosted its stake in Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in Starbucks by 10.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,246 shares of the coffee company’s stock valued at $120,000 after purchasing an additional 113 shares during the period. Blue Bell Private Wealth Management LLC raised its holdings in Starbucks by 24.6% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 598 shares of the coffee company’s stock valued at $57,000 after acquiring an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after buying an additional 122 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on SBUX shares. HSBC lowered their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Jefferies Financial Group reduced their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Bank of America lifted their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Guggenheim reduced their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.88.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock worth $579,375 in the last ninety days. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock traded up $2.01 during mid-day trading on Wednesday, reaching $77.95. 18,892,853 shares of the company were exchanged, compared to its average volume of 10,788,821. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market capitalization of $88.29 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.70 and a beta of 0.94. The business’s 50 day simple moving average is $77.79 and its 200 day simple moving average is $84.89.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. On average, analysts forecast that Starbucks Co. will post 3.57 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

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.