Sumitomo Mitsui DS Asset Management Company Ltd Buys 8,140 Shares of Starbucks Corporation $SBUX

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.7% in Q2, holding 150,350 shares worth approximately $13.8 million.
• Starbucks reported $0.50 EPS for the last quarter, which was below the consensus estimate of $0.64, but its revenue of $9.46 billion exceeded analyst expectations.
• The company has declared a quarterly dividend of $0.61 per share, resulting in a dividend yield of 2.9%, despite having a payout ratio of 105.17%.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,350 shares of the coffee company's stock after purchasing an additional 8,140 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Starbucks were worth $13,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the fourth quarter worth about $25,000. Hughes Financial Services LLC bought a new position in Starbucks during the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks during the 1st quarter valued at about $29,000. Finally, Nova Wealth Management Inc. lifted its holdings in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock valued at $31,000 after purchasing an additional 234 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Morgan Stanley reiterated an "overweight" rating and set a $103.00 target price (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. Finally, Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Stock Performance

NASDAQ:SBUX traded up $1.14 during trading hours on Friday, reaching $84.56. The stock had a trading volume of 15,308,130 shares, compared to its average volume of 8,404,650. The stock has a 50 day simple moving average of $89.34 and a 200 day simple moving average of $89.74. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market cap of $96.12 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00.

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

Starbucks Announces Dividend

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

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.