New Millennium Group LLC Takes $26,000 Position in Starbucks Co. (NASDAQ:SBUX)

New Millennium Group LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 334 shares of the coffee company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Orca Investment Management LLC increased its position in Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after buying an additional 466 shares in the last quarter. Cox Capital Mgt LLC grew its holdings in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares during the period. Summa Corp. bought a new stake in shares of Starbucks in the fourth quarter worth $384,000. Brevan Howard Capital Management LP bought a new stake in shares of Starbucks in the fourth quarter worth $2,781,000. Finally, FFT Wealth Management LLC bought a new stake in shares of Starbucks in the fourth quarter worth $209,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SBUX shares. Jefferies Financial Group lowered their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Bank of America lifted their target price on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $81.00 to $105.00 in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.21.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 1.7 %

Shares of NASDAQ:SBUX traded up $1.58 during trading on Monday, reaching $95.60. The company’s stock had a trading volume of 4,992,996 shares, compared to its average volume of 11,980,572. The firm’s 50 day simple moving average is $79.51 and its two-hundred day simple moving average is $83.82. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $108.29 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. Research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.