Starbucks Corporation $SBUX Position Boosted by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,112 shares of the coffee company’s stock after buying an additional 13,262 shares during the quarter. Nordea Investment Management AB’s holdings in Starbucks were worth $36,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC increased its holdings in shares of Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares during the last quarter. Cooper Haims Advisors LLC lifted its stake in Starbucks by 3.0% during the second quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock worth $344,000 after purchasing an additional 110 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares during the period. Diligent Investors LLC boosted its holdings in Starbucks by 1.9% in the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the period. Finally, Silver Oak Securities Incorporated increased its stake in Starbucks by 2.4% during the third quarter. Silver Oak Securities Incorporated now owns 5,288 shares of the coffee company’s stock valued at $447,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.7%

Shares of NASDAQ SBUX opened at $91.15 on Thursday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market cap of $103.65 billion, a PE ratio of 55.58, a P/E/G ratio of 1.91 and a beta of 0.97. The stock has a 50 day simple moving average of $85.69 and a 200-day simple moving average of $87.08.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the previous year, the firm earned $0.80 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts forecast 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 will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 annualized dividend and a yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Starbucks in a report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. Mizuho set a $86.00 target price on Starbucks and gave the company a “neutral” rating in a report on Friday, January 9th. Citigroup cut their price target on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.12.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.