Starbucks Co. (NASDAQ:SBUX) Shares Bought by Investment House LLC

Investment House LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 18.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,840 shares of the coffee company’s stock after acquiring an additional 1,850 shares during the period. Investment House LLC’s holdings in Starbucks were worth $922,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SBUX. Norges Bank acquired a new position in Starbucks in the fourth quarter worth about $1,240,652,000. Ontario Teachers Pension Plan Board acquired a new position in Starbucks in the first quarter worth about $415,167,000. Flossbach Von Storch AG lifted 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 worth $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Capital World Investors bought a new position in Starbucks in the first quarter worth about $257,721,000. Finally, Van ECK Associates Corp lifted 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 worth $196,516,000 after acquiring an additional 2,071,378 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SBUX shares. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. TD Cowen raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.00 to $105.00 in a report on Tuesday, August 13th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, HSBC cut their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,790 shares of company stock valued at $865,514. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.2 %

Shares of NASDAQ:SBUX traded down $0.23 during trading on Wednesday, reaching $92.78. 6,755,992 shares of the company traded hands, compared to its average volume of 12,041,306. The firm has a fifty day simple moving average of $78.71 and a 200 day simple moving average of $83.85. The firm has a market cap of $105.09 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.46%. 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.