Mizuho Securities USA LLC Has $7.16 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Mizuho Securities USA LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 15.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,482 shares of the coffee company’s stock after selling 13,857 shares during the quarter. Mizuho Securities USA LLC’s holdings in Starbucks were worth $7,164,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co raised its holdings in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares during the last quarter. Essex Savings Bank grew its position in shares of Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares during the period. DT Investment Partners LLC grew its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the period. Childress Capital Advisors LLC grew its position in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after buying an additional 126 shares during the period. Finally, Keystone Wealth Services LLC grew its position in shares of Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective for the company. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Stifel Nicolaus lifted their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Stock Performance

Shares of Starbucks stock opened at $98.26 on Thursday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $104.68. The stock’s 50-day simple moving average is $97.01 and its 200 day simple moving average is $86.70. The stock has a market capitalization of $111.35 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Company 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.