AIA Group Ltd Has $8.23 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

AIA Group Ltd boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 121.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,414 shares of the coffee company’s stock after acquiring an additional 46,236 shares during the period. AIA Group Ltd’s holdings in Starbucks were worth $8,230,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC grew its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Barclays cut their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Stock Up 0.0 %

NASDAQ:SBUX opened at $96.12 on Friday. The stock’s fifty day simple moving average is $95.99 and its 200-day simple moving average is $85.67. The firm has a market capitalization of $108.92 billion, a P/E ratio of 29.04, a P/E/G ratio of 2.81 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 EPS. As a group, equities research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.54%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.