Ilmarinen Mutual Pension Insurance Co Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Ilmarinen Mutual Pension Insurance Co raised its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,533 shares of the coffee company's stock after acquiring an additional 40,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Starbucks were worth $19,302,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Hurley Capital LLC bought a new position in shares of Starbucks in the fourth quarter valued at $823,000. Ted Buchan & Co grew its stake in shares of Starbucks by 4.8% in the 4th quarter. Ted Buchan & Co now owns 7,946 shares of the coffee company's stock worth $725,000 after acquiring an additional 365 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Starbucks by 0.7% in the fourth quarter. Wedbush Securities Inc. now owns 49,106 shares of the coffee company's stock valued at $4,481,000 after purchasing an additional 331 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Starbucks by 5.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,230 shares of the coffee company's stock valued at $1,116,000 after purchasing an additional 678 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in Starbucks during the fourth quarter worth about $29,598,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Finally, Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $105.12.

Remove Ads

Starbucks Stock Down 3.6 %

Shares of SBUX stock traded down $3.20 during mid-day trading on Thursday, reaching $85.48. 8,325,606 shares of the company's stock traded hands, compared to its average volume of 11,415,362. The company's 50-day moving average price is $103.14 and its 200-day moving average price is $98.92. The company has a market cap of $97.10 billion, a P/E ratio of 27.45, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the business earned $0.90 earnings per share. Equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is 78.71%.

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.