Asset Management One Co. Ltd. Has $43.39 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Asset Management One Co. Ltd. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.4% during the fourth quarter, Holdings Channel reports. The fund owned 470,356 shares of the coffee company’s stock after acquiring an additional 40,361 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Starbucks were worth $43,390,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $62,000. Dakota Wealth Management raised 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 worth $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. lifted its position in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the period. Finally, Investment Management Corp of Ontario grew its position in shares of Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $113.00 on Friday. The company has a 50-day simple moving average of $97.76 and a 200 day simple moving average of $95.49. The company has a market capitalization of $128.36 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $113.40.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is currently 78.71%.

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.