Asset Management One Co. Ltd. Buys 24,889 Shares of Starbucks Corporation $SBUX

Asset Management One Co. Ltd. raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,340 shares of the coffee company’s stock after buying an additional 24,889 shares during the period. Asset Management One Co. Ltd.’s holdings in Starbucks were worth $48,778,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBUX. Game Plan Financial Advisors LLC bought a new position in Starbucks during the second quarter valued at about $25,000. Chelsea Counsel Co. bought a new position in Starbucks during the second quarter valued at about $26,000. Hughes Financial Services LLC bought a new position in Starbucks during the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Starbucks during the first quarter valued at about $29,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.8%

Shares of SBUX opened at $86.09 on Friday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a market capitalization of $97.86 billion, a price-to-earnings ratio of 37.11, a P/E/G ratio of 4.28 and a beta of 1.01. The stock’s 50-day moving average price is $85.01 and its 200 day moving average price is $87.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. TD Cowen dropped their price objective on Starbucks from $88.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, October 10th. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. BTIG Research set a $105.00 price objective on Starbucks in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada lifted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.80.

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.