Gradient Investments LLC Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Gradient Investments LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 317,027 shares of the coffee company’s stock after acquiring an additional 31,705 shares during the quarter. Gradient Investments LLC’s holdings in Starbucks were worth $24,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Orca Investment Management LLC grew its stake in Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after acquiring an additional 466 shares in the last quarter. Cox Capital Mgt LLC increased its holdings in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Summa Corp. bought a new position in shares of Starbucks in the fourth quarter worth $384,000. Brevan Howard Capital Management LP purchased a new stake in shares of Starbucks in the fourth quarter worth $2,781,000. Finally, FFT Wealth Management LLC bought a new stake in Starbucks during the fourth quarter valued at $209,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX traded up $0.50 during mid-day trading on Friday, reaching $94.81. 16,336,331 shares of the company’s stock traded hands, compared to its average volume of 12,062,401. The company has a 50 day moving average price of $78.23 and a 200-day moving average price of $84.00. The firm has a market capitalization of $107.44 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 1.80 and a beta of 0.94. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company earned $1.00 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 10,540 shares of company stock valued at $879,291. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a report on Wednesday. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Bank of America increased their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. UBS Group dropped their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday, May 3rd. Twelve investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.79.

About Starbucks

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.