Asset Management One Co. Ltd. Sells 517 Shares of Starbucks Co. (NASDAQ:SBUX)

Asset Management One Co. Ltd. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.1% in the third quarter, HoldingsChannel.com reports. The fund owned 429,995 shares of the coffee company’s stock after selling 517 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Starbucks were worth $41,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC purchased a new position in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in Starbucks in the 2nd quarter worth $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks in the 2nd quarter worth $31,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 1.9 %

SBUX opened at $97.03 on Tuesday. The firm has a 50 day moving average price of $96.00 and a 200-day moving average price of $85.53. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market capitalization of $109.95 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.17 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Starbucks Co. will post 3.22 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. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is currently 68.88%.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays decreased their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Bank of America decreased their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.32.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

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.