Nisa Investment Advisors LLC Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

by · The Markets Daily

Nisa Investment Advisors LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 14.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 425,733 shares of the coffee company’s stock after acquiring an additional 54,233 shares during the period. Nisa Investment Advisors LLC’s holdings in Starbucks were worth $41,505,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG raised its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Starbucks by 5.2% during the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after purchasing an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the first quarter valued at approximately $415,167,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.7 %

NASDAQ:SBUX opened at $98.02 on Tuesday. The stock has a 50 day moving average of $95.59 and a two-hundred day moving average of $85.11. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market cap of $111.08 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the company earned $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, research analysts forecast that Starbucks Co. will post 3.34 earnings per share for the current 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 paid a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 63.87%.

Analyst Ratings Changes

Several analysts have commented on SBUX shares. Oppenheimer restated 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 upped their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Stifel Nicolaus reduced their price objective on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, October 23rd. Finally, Morgan Stanley lifted 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.48.

View Our Latest Analysis on Starbucks

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were purchased at an average price 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. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Company Profile

(Free Report)

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.

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