Bank Pictet & Cie Europe AG Has $12.14 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bank Pictet & Cie Europe AG grew its stake in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,503 shares of the coffee company’s stock after buying an additional 9,584 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Starbucks were worth $12,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp increased its stake in shares of Starbucks by 7.8% in the second quarter. Atlantic Union Bankshares Corp now owns 44,550 shares of the coffee company’s stock valued at $3,468,000 after buying an additional 3,215 shares during the period. McAdam LLC boosted its position in shares of Starbucks by 55.9% during the 2nd quarter. McAdam LLC now owns 5,830 shares of the coffee company’s stock valued at $454,000 after purchasing an additional 2,090 shares in the last quarter. LRI Investments LLC boosted its position in shares of Starbucks by 125.5% during the 2nd quarter. LRI Investments LLC now owns 1,892 shares of the coffee company’s stock valued at $147,000 after purchasing an additional 1,053 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at about $61,000. Finally, Family Firm Inc. boosted its position in shares of Starbucks by 21.5% during the 2nd quarter. Family Firm Inc. now owns 3,576 shares of the coffee company’s stock valued at $278,000 after purchasing an additional 632 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock valued at $865,514 over the last ninety days. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Up 1.7 %

Shares of SBUX traded up $1.59 on Friday, reaching $94.02. 11,483,711 shares of the company’s stock traded hands, compared to its average volume of 12,025,455. The stock has a market cap of $106.50 billion, a PE ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94. The stock’s 50 day simple moving average is $79.51 and its two-hundred day simple moving average is $83.90. 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 results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $1.00 earnings per share. Analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Jefferies Financial Group cut their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. HSBC cut their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Barclays increased their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

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.