Starbucks Co. (NASDAQ:SBUX) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 70.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,688 shares of the coffee company’s stock after acquiring an additional 5,228 shares during the period. GAMMA Investing LLC’s holdings in Starbucks were worth $988,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SBUX. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new position in Starbucks in the first quarter valued at about $415,167,000. Flossbach Von Storch AG increased its holdings in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Capital World Investors purchased a new position in Starbucks in the first quarter valued at about $257,721,000. Finally, Van ECK Associates Corp increased its holdings in Starbucks by 2,624.3% in the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after buying an additional 2,071,378 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SBUX. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price 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 reiterated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Evercore ISI lowered shares of Starbucks from an “outperform” rating to an “inline” rating and decreased their price target for the company from $92.00 to $80.00 in a report on Tuesday, July 16th. Finally, Barclays decreased their price target on shares of Starbucks from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.88.

Starbucks Price Performance

SBUX traded down $2.47 on Monday, reaching $73.41. 7,387,121 shares of the company traded hands, compared to its average volume of 10,844,813. The stock’s 50 day moving average price is $77.62 and its 200-day moving average price is $84.56. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a market cap of $83.15 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.74 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the 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 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 SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated 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 directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last three months, insiders sold 7,250 shares of company stock valued at $579,375. Company insiders own 1.98% of the company’s stock.

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.