Rakuten Securities Inc. Sells 747 Shares of Starbucks Co. (NASDAQ:SBUX)

Rakuten Securities Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 46.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876 shares of the coffee company’s stock after selling 747 shares during the period. Rakuten Securities Inc.’s holdings in Starbucks were worth $85,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the first quarter valued at approximately $415,167,000. Marshall Wace LLP grew its stake in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in Starbucks in the 2nd quarter worth $243,910,000. Capital World Investors acquired a new position in Starbucks during the 1st quarter worth $257,721,000. Finally, Van ECK Associates Corp boosted its holdings in Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after acquiring an additional 2,324,847 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SBUX. Stifel Nicolaus boosted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.32.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired 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 directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Down 1.5 %

NASDAQ:SBUX opened at $98.80 on Wednesday. The stock has a market capitalization of $111.96 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a 50 day moving average of $96.19 and a 200-day moving average of $85.86.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

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.