Nisa Investment Advisors LLC Sells 14,345 Shares of Starbucks Corporation $SBUX

Nisa Investment Advisors LLC cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 339,861 shares of the coffee company’s stock after selling 14,345 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Starbucks were worth $28,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.7% during the second quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock worth $10,341,511,000 after purchasing an additional 802,053 shares in the last quarter. State Street Corp increased its holdings in shares of Starbucks by 1.2% in the second quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after purchasing an additional 544,534 shares in the last quarter. Geode Capital Management LLC raised its position in Starbucks by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock worth $2,357,815,000 after purchasing an additional 99,983 shares during the last quarter. Norges Bank acquired a new position in Starbucks during the 2nd quarter worth $1,246,316,000. Finally, Invesco Ltd. boosted its position in Starbucks by 11.2% in the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after buying an additional 1,286,451 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Starbucks in a research note on Monday, December 29th. Morgan Stanley set a $105.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. BTIG Research reaffirmed a “buy” rating and issued a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.04.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $88.18 on Friday. The company has a 50 day moving average price of $84.97 and a two-hundred day moving average price of $87.16. The company has a market capitalization of $100.27 billion, a PE ratio of 53.77, a PEG ratio of 1.82 and a beta of 0.97. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $0.80 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio is presently 151.22%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

About Starbucks

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.