Nissay Asset Management Corp Japan ADV Buys 25,501 Shares of Starbucks Corporation $SBUX

Key Points

• Nissay Asset Management Corp Japan increased its holdings in Starbucks by 10.1%, owning 277,993 shares worth approximately $27.27 million as of the latest report.
• Starbucks reported a net income per share of $0.50 for the most recent quarter, falling short of analyst expectations, despite revenues of $9.46 billion which surpassed estimates.
• Analysts have generally rated Starbucks positively, with an average target price of $104.40 and several institutions, like Royal Bank of Canada and Barclays, recently boosting their price targets.

Nissay Asset Management Corp Japan ADV lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,993 shares of the coffee company's stock after acquiring an additional 25,501 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Starbucks were worth $27,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its position in shares of Starbucks by 4.9% during the first quarter. Integrated Wealth Concepts LLC now owns 51,078 shares of the coffee company's stock valued at $5,010,000 after acquiring an additional 2,399 shares in the last quarter. DoubleLine ETF Adviser LP purchased a new stake in Starbucks in the first quarter worth approximately $2,576,000. Boothbay Fund Management LLC boosted its holdings in Starbucks by 289.0% in the first quarter. Boothbay Fund Management LLC now owns 102,126 shares of the coffee company's stock worth $10,018,000 after purchasing an additional 75,874 shares during the last quarter. Bwcp LP purchased a new stake in Starbucks in the first quarter worth approximately $20,152,000. Finally, Banque Transatlantique SA boosted its holdings in Starbucks by 848.6% in the first quarter. Banque Transatlantique SA now owns 13,698 shares of the coffee company's stock worth $1,242,000 after purchasing an additional 12,254 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock traded down $1.58 on Friday, hitting $85.43. 9,037,892 shares of the company's stock were exchanged, compared to its average volume of 7,778,873. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a 50-day simple moving average of $91.54 and a 200-day simple moving average of $91.53. The stock has a market capitalization of $97.11 billion, a PE ratio of 36.82, a PEG ratio of 5.09 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the company posted $0.93 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's dividend payout ratio is 105.17%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Guggenheim raised 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. Stifel Nicolaus raised their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Evercore ISI restated an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Citigroup dropped their target price on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

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.