Daiwa Securities Group Inc. Has $22 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Daiwa Securities Group Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 225,690 shares of the coffee company’s stock after purchasing an additional 28,483 shares during the period. Daiwa Securities Group Inc.’s holdings in Starbucks were worth $22,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter worth $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter valued at $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the second quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

NASDAQ SBUX opened at $102.50 on Monday. The company has a market capitalization of $116.21 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.60. The company has a 50-day simple moving average of $97.11 and a 200 day simple moving average of $87.19.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company earned $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 73.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

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.