Mitsubishi UFJ Asset Management Co. Ltd. Has $217.89 Million Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Mitsubishi UFJ Asset Management has increased its stake in Starbucks by 14%, owning 2,221,369 shares valued at approximately $217.89 million.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing estimates by $0.14, while revenue was up 3.8% year-over-year, totaling $9.46 billion.
• The company announced a quarterly dividend of $0.61, yielding 2.7%, with a payout ratio of 105.17%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,221,369 shares of the coffee company's stock after acquiring an additional 272,073 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Starbucks worth $217,894,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBUX. Arjuna Capital increased its stake in shares of Starbucks by 94.6% in the 1st quarter. Arjuna Capital now owns 24,856 shares of the coffee company's stock valued at $2,438,000 after purchasing an additional 12,084 shares during the last quarter. Blue Barn Wealth LLC acquired a new stake in Starbucks in the first quarter valued at about $259,000. Chicago Partners Investment Group LLC grew its position in Starbucks by 12.4% in the first quarter. Chicago Partners Investment Group LLC now owns 18,673 shares of the coffee company's stock valued at $1,832,000 after acquiring an additional 2,056 shares during the last quarter. Evolution Wealth Advisors LLC grew its position in Starbucks by 13.7% in the first quarter. Evolution Wealth Advisors LLC now owns 3,020 shares of the coffee company's stock valued at $296,000 after acquiring an additional 363 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in Starbucks during the first quarter worth about $8,599,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 1.3%

Shares of Starbucks stock opened at $88.99 on Thursday. Starbucks Corporation has a 52 week low of $74.75 and a 52 week high of $117.46. The business has a 50 day moving average price of $91.96 and a 200-day moving average price of $94.48. The company has a market cap of $101.15 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 5.14 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. Starbucks's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.7%. Starbucks's dividend payout ratio (DPR) is 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. Citigroup dropped their price objective on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Robert W. Baird raised their price objective on shares of Starbucks from $88.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. CICC Research initiated coverage on shares of Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 price target on the stock. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price for the company. in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $101.27.

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.

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