Tokio Marine Asset Management Co. Ltd. Buys 797 Shares of Starbucks Co. (NASDAQ:SBUX)

Tokio Marine Asset Management Co. Ltd. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,049 shares of the coffee company’s stock after purchasing an additional 797 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Starbucks were worth $3,269,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Starbucks by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after buying an additional 387,632 shares during the period. Northern Trust Corp grew its stake in shares of Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after purchasing an additional 232,031 shares during the period. Invesco Ltd. grew its stake in shares of Starbucks by 11.8% during the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after purchasing an additional 1,115,051 shares during the period. Nordea Investment Management AB grew its stake in shares of Starbucks by 44.8% during the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after purchasing an additional 1,591,206 shares during the period. Finally, Jensen Investment Management Inc. grew its stake in shares of Starbucks by 2.8% during the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock worth $452,374,000 after purchasing an additional 133,620 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, January 16th. Piper Sandler decreased their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Jefferies Financial Group decreased their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Robert W. Baird decreased their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.68.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by insiders.

Starbucks Trading Down 0.9 %

NASDAQ:SBUX traded down $0.82 on Thursday, hitting $87.93. The company’s stock had a trading volume of 3,393,060 shares, compared to its average volume of 8,344,022. The stock has a fifty day moving average of $90.57 and a two-hundred day moving average of $94.35. The firm has a market capitalization of $99.55 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

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.