PSI Advisors LLC Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

PSI Advisors LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 45.8% in the second quarter, Holdings Channel reports. The institutional investor owned 3,079 shares of the coffee company’s stock after acquiring an additional 967 shares during the quarter. PSI Advisors LLC’s holdings in Starbucks were worth $240,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SBUX. Vima LLC bought a new stake in Starbucks in the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at approximately $27,000. Finally, Fairman Group LLC acquired a new position in Starbucks in the fourth quarter worth $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX traded down $0.35 during midday trading on Thursday, reaching $92.43. The stock had a trading volume of 10,005,168 shares, compared to its average volume of 12,028,839. The company has a market capitalization of $104.70 billion, a P/E ratio of 25.46, a P/E/G ratio of 2.28 and a beta of 0.94. The firm’s 50 day moving average price is $79.22 and its 200-day moving average price is $83.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analysts Set New Price Targets

A number of analysts have weighed in on SBUX shares. The Goldman Sachs Group began coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Jefferies Financial Group dropped their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.21.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred 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 directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock valued at $865,514 in the last three months. Corporate insiders own 1.98% of the company’s stock.

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.