Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,807 shares of the coffee company’s stock after buying an additional 12,303 shares during the period. Starbucks comprises 1.4% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 15th largest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Starbucks were worth $9,496,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its holdings in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Starbucks by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Starbucks in the second quarter valued at about $128,000. Finally, Kings Point Capital Management lifted its holdings in shares of Starbucks by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock valued at $135,000 after purchasing an additional 425 shares in the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock valued at $28,559,521 over the last 90 days. Insiders own 3.40% of the company’s stock.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $60.40 on Friday. The stock has a market cap of $85,940.00, a price-to-earnings ratio of 30.66, a PEG ratio of 1.61 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. research analysts forecast that Starbucks Co. will post 2.34 EPS for the current fiscal year.
A number of research firms have recently weighed in on SBUX. Vetr lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price objective for the company. in a research report on Monday, January 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a research report on Friday, January 5th. Tigress Financial reissued a “buy” rating on shares of Starbucks in a research report on Tuesday, January 2nd. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, UBS Group set a $64.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $63.23.
TRADEMARK VIOLATION WARNING: This piece was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2018/01/13/tokio-marine-asset-management-co-ltd-has-9-50-million-position-in-starbucks-co-sbux.html.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.