Resona Asset Management Co. Ltd. Has $33.96 Million Holdings in Starbucks Corporation $SBUX

Resona Asset Management Co. Ltd. lifted its position in Starbucks Corporation (NASDAQ:SBUX) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,272 shares of the coffee company’s stock after purchasing an additional 19,288 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Starbucks were worth $33,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Brighton Jones LLC increased its stake in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Starbucks by 81.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the coffee company’s stock valued at $862,000 after purchasing an additional 3,947 shares in the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of Starbucks by 3.6% in the 1st quarter. Stratos Wealth Advisors LLC now owns 6,940 shares of the coffee company’s stock valued at $681,000 after purchasing an additional 240 shares during the period. Greenleaf Trust raised its holdings in shares of Starbucks by 0.9% in the 1st quarter. Greenleaf Trust now owns 32,545 shares of the coffee company’s stock worth $3,192,000 after buying an additional 300 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Starbucks by 97.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 493 shares of the coffee company’s stock worth $48,000 after buying an additional 243 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Citigroup reduced their target price on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $105.00 target price on shares of Starbucks in a report on Thursday, October 30th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Finally, Bank of America upped their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Starbucks Stock Performance

SBUX opened at $82.22 on Friday. The company has a fifty day moving average price of $83.98 and a two-hundred day moving average price of $87.43. The firm has a market capitalization of $93.46 billion, a PE ratio of 50.13, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share. Equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.0%. Starbucks’s dividend payout ratio is 151.22%.

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.