Dai ichi Life Insurance Company Ltd Sells 715 Shares of Starbucks Co. (NASDAQ:SBUX)

Dai ichi Life Insurance Company Ltd decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,955 shares of the coffee company’s stock after selling 715 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Starbucks were worth $2,725,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SBUX. Dakota Wealth Management increased its holdings in Starbucks by 0.5% in the 3rd 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 period. Weil Company Inc. increased its stake in Starbucks by 31.2% in the third 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 during the period. Maia Wealth LLC raised its position in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC lifted its stake in Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Swiss National Bank grew its stake in shares of Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after purchasing an additional 9,900 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SBUX shares. Bank of America decreased their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Stifel Nicolaus upped their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $101.51 on Thursday. The firm’s 50 day simple moving average is $97.41 and its 200 day simple moving average is $87.65. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company has a market capitalization of $115.09 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.