Natixis Advisors LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Natixis Advisors LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 16.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,349,923 shares of the coffee company’s stock after purchasing an additional 185,962 shares during the period. Natixis Advisors LLC’s holdings in Starbucks were worth $131,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new stake in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC boosted its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at about $31,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. Bank of America cut their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost 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 approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $98.42 on Friday. The firm has a 50-day simple moving average of $96.75 and a two-hundred day simple moving average of $86.19. The firm has a market cap of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. Starbucks’s payout ratio is 73.72%.

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.