Umpqua Bank Purchases 574 Shares of Starbucks Co. (NASDAQ:SBUX)

Umpqua Bank boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,116 shares of the coffee company’s stock after purchasing an additional 574 shares during the quarter. Umpqua Bank’s holdings in Starbucks were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the last quarter. Norges Bank acquired a new stake in Starbucks during the 4th quarter worth $1,240,652,000. Fisher Asset Management LLC raised its position in shares of Starbucks by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after acquiring an additional 260,489 shares during the last quarter. Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Starbucks by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after purchasing an additional 166,010 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $91.15 on Friday. The company’s 50-day moving average price is $82.41 and its two-hundred day moving average price is $83.88. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a market capitalization of $103.29 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 over the last 90 days. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SBUX has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. BMO Capital Markets decreased their price objective on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $99.42.

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.