LGL Partners LLC Raises Position in Starbucks Co. (NASDAQ:SBUX)

LGL Partners LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,904 shares of the coffee company’s stock after acquiring an additional 150 shares during the quarter. LGL Partners LLC’s holdings in Starbucks were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. First National Trust Co raised its stake in Starbucks by 2.2% in the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after purchasing an additional 106 shares in the last quarter. Graybill Wealth Management LTD. raised its position in shares of Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after buying an additional 109 shares in the last quarter. Versant Capital Management Inc grew its position in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its stake in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the last quarter. Finally, Bedel Financial Consulting Inc. raised its position in Starbucks by 2.1% during the fourth quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. BMO Capital Markets decreased their price target on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. TD Cowen upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $105.00 in a report on Tuesday, August 13th. Jefferies Financial Group reduced their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.21.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 over the last ninety days. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

Shares of NASDAQ SBUX opened at $94.57 on Monday. The firm has a fifty day simple moving average of $81.06 and a two-hundred day simple moving average of $83.83. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $107.17 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.57 per share. The ex-dividend date was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.41%. Starbucks’s dividend 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.