Natixis Advisors LLC Acquires 185,962 Shares of Starbucks Co. (NASDAQ:SBUX)

Natixis Advisors LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 16.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,349,923 shares of the coffee company’s stock after acquiring an additional 185,962 shares during the quarter. Natixis Advisors LLC owned approximately 0.12% of Starbucks worth $131,605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks during the second quarter worth about $31,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $98.42 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock’s 50-day simple moving average is $96.75 and its 200 day simple moving average is $86.19. The stock has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.89 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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

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

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research reports. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada initiated coverage on Starbucks in a report on Friday. They issued an “outperform” rating and a $115.00 price objective for the company. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.81.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by company 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.