Swiss National Bank Buys 9,900 Shares of Starbucks Co. (NASDAQ:SBUX)

Swiss National Bank boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,362,100 shares of the coffee company’s stock after acquiring an additional 9,900 shares during the quarter. Swiss National Bank owned about 0.30% of Starbucks worth $327,771,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SBUX. Legal & General Group Plc boosted its position in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Van ECK Associates Corp boosted its position in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the period. Marshall Wace LLP boosted its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Starbucks by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company’s stock valued at $317,424,000 after buying an additional 122,886 shares during the period. Finally, Capital World Investors purchased a new position in shares of Starbucks during the first quarter valued at approximately $257,721,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.2 %

Shares of SBUX stock opened at $98.42 on Friday. The business’s fifty day simple moving average is $96.75 and its 200-day simple moving average is $86.18. The company has a market cap of $111.53 billion, a PE ratio of 29.73, a PEG ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is presently 68.88%.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on SBUX shares. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Royal Bank of Canada began coverage on Starbucks in a research report on Friday. They set an “outperform” rating and a $115.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Company 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.