Stephens Consulting LLC Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Stephens Consulting LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 498.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 335 shares of the coffee company’s stock after purchasing an additional 279 shares during the period. Stephens Consulting LLC’s holdings in Starbucks were worth $26,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its stake in shares of Starbucks by 1,299.8% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock worth $44,789,000 after acquiring an additional 433,179 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in Starbucks by 6.5% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,873 shares of the coffee company’s stock valued at $276,000 after purchasing an additional 175 shares in the last quarter. Mather Group LLC. boosted its stake in Starbucks by 10.0% during the 4th quarter. Mather Group LLC. now owns 18,413 shares of the coffee company’s stock worth $1,768,000 after purchasing an additional 1,669 shares during the last quarter. McAdam LLC grew its holdings in shares of Starbucks by 3.3% during the fourth quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock worth $367,000 after buying an additional 124 shares in the last quarter. Finally, Choreo LLC raised its position in shares of Starbucks by 24.7% in the fourth quarter. Choreo LLC now owns 29,236 shares of the coffee company’s stock valued at $2,807,000 after buying an additional 5,797 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 approximately $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 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 have sold 9,790 shares of company stock valued at $865,514 over the last quarter. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SBUX shares. HSBC lowered their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Citigroup raised their target price on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Starbucks Stock Down 0.3 %

SBUX stock traded down $0.29 during trading on Friday, hitting $94.57. The company had a trading volume of 7,114,395 shares, compared to its average volume of 12,037,227. The firm has a 50-day moving average price of $80.76 and a 200-day moving average price of $83.98. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market cap of $107.12 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.41%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.