Nomura Asset Management Co. Ltd. Has $32.74 Million Position in Starbucks Co. (NASDAQ:SBUX)

Nomura Asset Management Co. Ltd. grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 340,981 shares of the coffee company’s stock after buying an additional 14,703 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Starbucks were worth $32,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SBUX. Orca Investment Management LLC raised its position in shares of Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares during the period. Summa Corp. acquired a new position in Starbucks in the fourth quarter valued at approximately $384,000. Finally, FFT Wealth Management LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $209,000. 72.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,750 shares of company stock valued at $642,050. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SBUX. UBS Group cut their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company reduced their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. TD Cowen lowered their price target on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus reduced their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Finally, Stephens reiterated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.43.

Starbucks Stock Performance

Starbucks stock traded up $0.56 during mid-day trading on Friday, reaching $78.87. The stock had a trading volume of 10,746,166 shares, compared to its average volume of 17,810,700. The firm has a market capitalization of $89.34 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97. The stock’s 50-day simple moving average is $84.08 and its 200-day simple moving average is $91.79. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.89%. Starbucks’s payout ratio is currently 62.81%.

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.