Starbucks Corporation $SBUX Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 433,112 shares of the coffee company’s stock after buying an additional 13,262 shares during the period. Nordea Investment Management AB’s holdings in Starbucks were worth $36,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Norges Bank bought a new position in shares of Starbucks during the 2nd quarter valued at about $1,246,316,000. Corient Private Wealth LLC lifted its stake in Starbucks by 146.6% during the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after purchasing an additional 3,596,014 shares during the last quarter. Invesco Ltd. boosted its holdings in Starbucks by 11.2% during the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after buying an additional 1,286,451 shares in the last quarter. California Public Employees Retirement System grew its position in Starbucks by 68.0% in the second quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after buying an additional 1,225,447 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Starbucks by 22.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock valued at $511,202,000 after buying an additional 1,026,056 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.7%

NASDAQ:SBUX opened at $91.15 on Thursday. The business’s fifty day moving average price is $85.69 and its 200 day moving average price is $87.08. The firm has a market capitalization of $103.65 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.91 and a beta of 0.97. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.7%. Starbucks’s payout ratio is presently 151.22%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the business’s stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director directly owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SBUX shares. Citigroup reduced their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Zacks Research lowered Starbucks from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average target price of $102.12.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.