E. Ohman J or Asset Management AB Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

E. Ohman J or Asset Management AB cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,600 shares of the coffee company’s stock after selling 3,400 shares during the period. E. Ohman J or Asset Management AB’s holdings in Starbucks were worth $4,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks during the first quarter valued at about $415,167,000. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks during the second quarter valued at approximately $243,910,000. Flossbach Von Storch AG raised its holdings in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Starbucks during the 1st quarter valued at $257,721,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SBUX shares. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Finally, BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $102.48.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.15 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business has a fifty day moving average price of $95.38 and a 200-day moving average price of $84.89. The firm has a market capitalization of $110.09 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.51%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 63.87%.

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.