Oak Thistle LLC Has $1 Million Position in Starbucks Co. (NASDAQ:SBUX)

Oak Thistle LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 57.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,868 shares of the coffee company’s stock after purchasing an additional 4,714 shares during the quarter. Starbucks comprises 0.7% of Oak Thistle LLC’s portfolio, making the stock its 11th biggest holding. Oak Thistle LLC’s holdings in Starbucks were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Graybill Wealth Management LTD. boosted its holdings in Starbucks by 0.3% during the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its stake in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the last quarter. Bedel Financial Consulting Inc. raised its stake in shares of Starbucks by 2.1% in the fourth quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after acquiring an additional 132 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after acquiring an additional 133 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.41 on Friday, reaching $91.15. The company had a trading volume of 9,257,004 shares, compared to its average volume of 20,100,044. The firm has a market capitalization of $103.29 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company’s fifty day moving average is $82.41 and its 200-day moving average is $83.88.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates 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 for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. On average, research analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on SBUX. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Barclays boosted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Citigroup boosted their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group dropped their price objective on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.42.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated 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 in the company, 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 in the last three months. 1.98% of the stock is currently owned by corporate insiders.

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.