Nomura Asset Management Co. Ltd. Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

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Nomura Asset Management Co. Ltd. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 8.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 233,864 shares of the coffee company’s stock after buying an additional 18,520 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Starbucks were worth $15,374,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Starbucks by 4.5% in the 1st quarter. BlackRock Inc. now owns 84,291,281 shares of the coffee company’s stock valued at $5,541,310,000 after buying an additional 3,614,642 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in Starbucks by 12.5% in the 4th quarter. Magellan Asset Management Ltd now owns 32,036,678 shares of the coffee company’s stock valued at $2,816,665,000 after buying an additional 3,553,788 shares in the last quarter. Geode Capital Management LLC lifted its stake in Starbucks by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,603,871 shares of the coffee company’s stock valued at $1,633,457,000 after buying an additional 161,755 shares in the last quarter. FMR LLC lifted its stake in Starbucks by 0.9% in the 4th quarter. FMR LLC now owns 16,406,630 shares of the coffee company’s stock valued at $1,442,471,000 after buying an additional 144,675 shares in the last quarter. Finally, Norges Bank purchased a new stake in Starbucks in the 4th quarter valued at approximately $1,092,239,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SBUX traded down $6.01 during trading hours on Thursday, hitting $73.01. The company had a trading volume of 16,001,849 shares, compared to its average volume of 12,187,638. Starbucks Co. has a fifty-two week low of $50.02 and a fifty-two week high of $99.72. The company has a market capitalization of $97.62 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 4.77 and a beta of 0.79. The firm’s 50 day moving average is $76.95 and its 200 day moving average is $80.41.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 1.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.41 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.64 annualized dividend and a yield of 2.25%. Starbucks’s dividend payout ratio is currently 57.95%.

SBUX has been the topic of a number of recent research reports. Stephens reduced their target price on Starbucks from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Bank of America lowered Starbucks from a “buy” rating to a “neutral” rating and upped their target price for the company from $68.00 to $73.00 in a research note on Thursday, April 9th. KeyCorp increased their price target on Starbucks from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Starbucks from $65.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Wedbush increased their price target on Starbucks from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Twenty-one investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $82.28.

In related news, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $74.89, for a total value of $318,432.28. Following the completion of the sale, the director now directly owns 22,728 shares in the company, valued at approximately $1,702,099.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 12,756 shares of company stock valued at $916,476. 0.41% of the stock is owned by insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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