International Assets Investment Management LLC Acquires 745,707 Shares of Starbucks Co. (NASDAQ:SBUX)

International Assets Investment Management LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11,217.0% in the third quarter, HoldingsChannel reports. The firm owned 752,355 shares of the coffee company’s stock after buying an additional 745,707 shares during the period. International Assets Investment Management LLC’s holdings in Starbucks were worth $73,347,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the first quarter worth approximately $415,167,000. Marshall Wace LLP boosted its holdings 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 worth $260,870,000 after acquiring 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 worth approximately $243,910,000. Flossbach Von Storch AG boosted its holdings in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the period. Finally, Capital World Investors bought a new stake in shares of Starbucks during the first quarter worth approximately $257,721,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $97.31 on Friday. The company has a fifty day moving average of $95.48 and a 200-day moving average of $85.03. The company has a market capitalization of $110.22 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s payout ratio is currently 67.22%.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Citigroup dropped their price target on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Wednesday. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $102.48.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks 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 completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.