Meiji Yasuda Asset Management Co Ltd. Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,194 shares of the coffee company’s stock after purchasing an additional 1,675 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Starbucks were worth $3,207,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after buying an additional 122 shares during the period. Astoria Portfolio Advisors LLC. raised its stake in shares of Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the period. Carolinas Wealth Consulting LLC lifted its holdings in shares of Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after acquiring an additional 133 shares during the last quarter. Edge Capital Group LLC boosted its position in shares of Starbucks by 3.4% during the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after purchasing an additional 134 shares during the period. Finally, M&R Capital Management Inc. increased its holdings in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SBUX shares. JPMorgan Chase & Co. decreased their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Bank of America increased their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, The Goldman Sachs Group started coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Stock Down 0.3 %

Shares of SBUX stock opened at $96.12 on Thursday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock’s 50-day moving average price is $85.77 and its 200 day moving average price is $83.98. The stock has a market capitalization of $108.92 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

About Starbucks

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.