Tokio Marine Asset Management Co. Ltd. Purchases 2,200 Shares of Starbucks Co. (NASDAQ:SBUX)

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,753 shares of the coffee company’s stock after purchasing an additional 2,200 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Starbucks were worth $3,486,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Ontario Teachers Pension Plan Board bought a new position in Starbucks in the 1st quarter valued at $415,167,000. Marshall Wace LLP boosted its stake in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Starbucks during the second quarter worth about $243,910,000. Capital World Investors bought a new position in Starbucks in the 1st quarter worth about $257,721,000. Finally, Van ECK Associates Corp raised its holdings in shares of Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after acquiring an additional 2,324,847 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.0 %

NASDAQ:SBUX traded down $0.04 on Thursday, reaching $99.76. The company’s stock had a trading volume of 387,702 shares, compared to its average volume of 11,134,286. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a 50 day moving average price of $96.45 and a 200 day moving average price of $86.03. The firm has a market cap of $113.05 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations 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 was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. Equities research analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.45%. Starbucks’s payout ratio is currently 68.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.31.

About Starbucks

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.