Nissay Asset Management Corp Japan ADV Acquires 11,771 Shares of Starbucks Co. (NASDAQ:SBUX)

Nissay Asset Management Corp Japan ADV lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 252,492 shares of the coffee company’s stock after acquiring an additional 11,771 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Starbucks were worth $23,292,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SBUX. Aprio Wealth Management LLC grew its stake in Starbucks by 23.4% in the fourth quarter. Aprio Wealth Management LLC now owns 3,077 shares of the coffee company’s stock valued at $281,000 after acquiring an additional 584 shares during the period. Matrix Trust Co increased its stake in Starbucks by 605.3% during the 4th quarter. Matrix Trust Co now owns 1,065 shares of the coffee company’s stock valued at $97,000 after purchasing an additional 914 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Starbucks by 17.6% during the 4th quarter. Capital Investment Advisors LLC now owns 18,313 shares of the coffee company’s stock valued at $1,671,000 after purchasing an additional 2,744 shares in the last quarter. Wedmont Private Capital increased its stake in Starbucks by 1.6% during the 4th quarter. Wedmont Private Capital now owns 13,512 shares of the coffee company’s stock valued at $1,246,000 after purchasing an additional 212 shares in the last quarter. Finally, Signet Financial Management LLC acquired a new stake in shares of Starbucks in the 4th quarter worth about $661,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBUX. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Royal Bank of Canada cut their price objective on shares of Starbucks from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. TD Securities cut their price objective on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Finally, Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $98.72.

Starbucks Trading Up 1.4%

Shares of NASDAQ:SBUX opened at $86.88 on Wednesday. The company has a 50 day moving average of $89.11 and a 200 day moving average of $96.73. The stock has a market cap of $98.73 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.81%. Starbucks’s payout ratio is currently 88.41%.

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.