Hexagon Capital Partners LLC Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Hexagon Capital Partners LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 73.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,163 shares of the coffee company’s stock after buying an additional 915 shares during the period. Hexagon Capital Partners LLC’s holdings in Starbucks were worth $168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the 4th quarter valued at approximately $27,000. Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter valued at $30,000. Finally, Cypress Capital Management LLC WY lifted its position in Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,250 shares of company stock worth $579,375. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Stifel Nicolaus reduced their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley restated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. 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 note on Wednesday, July 31st. Finally, Wells Fargo & Company decreased their price target on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Starbucks has an average rating of “Hold” and a consensus price target of $90.88.

Starbucks Stock Performance

SBUX stock traded down $0.66 during trading on Friday, reaching $75.09. 4,683,590 shares of the company traded hands, compared to its average volume of 14,243,939. The business has a 50 day simple moving average of $77.28 and a 200 day simple moving average of $83.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $85.09 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

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.