HBK Sorce Advisory LLC Has $869,000 Stake in Starbucks Co. (NASDAQ:SBUX)

HBK Sorce Advisory LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,507 shares of the coffee company’s stock after buying an additional 967 shares during the period. HBK Sorce Advisory LLC’s holdings in Starbucks were worth $869,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vima LLC bought a new position in Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $30,000. Finally, Cypress Capital Management LLC WY boosted its holdings in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock valued at $601,375 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday, May 3rd. Piper Sandler cut their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. UBS Group cut their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. 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 report on Wednesday, July 10th. Finally, William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.75.

Starbucks Trading Up 6.8 %

Starbucks stock traded up $5.08 during midday trading on Friday, reaching $79.27. The stock had a trading volume of 32,300,467 shares, compared to its average volume of 10,573,333. 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 $89.79 billion, a P/E ratio of 21.82, a PEG ratio of 1.65 and a beta of 0.94. The company has a fifty day moving average price of $77.93 and a two-hundred day moving average price of $86.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 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.