Starbucks Co. (NASDAQ:SBUX) Shares Sold by Orca Investment Management LLC

Orca Investment Management LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,893 shares of the coffee company’s stock after selling 313 shares during the quarter. Orca Investment Management LLC’s holdings in Starbucks were worth $537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Gryphon Financial Partners LLC grew its position in Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after buying an additional 2,558 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in Starbucks by 463.7% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,787 shares of the coffee company’s stock valued at $172,000 after purchasing an additional 1,470 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Starbucks by 19.7% during the fourth quarter. Teacher Retirement System of Texas now owns 327,672 shares of the coffee company’s stock worth $31,460,000 after purchasing an additional 53,906 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Starbucks by 25.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 68,663 shares of the coffee company’s stock valued at $6,592,000 after buying an additional 13,818 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Starbucks by 9.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 3,000 shares of the coffee company’s stock worth $288,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

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 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 $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the transaction, 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. Insiders have sold 9,790 shares of company stock valued at $865,514 over the last three months. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Citigroup upped their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, BMO Capital Markets decreased their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.42.

Starbucks Price Performance

NASDAQ SBUX opened at $91.15 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market capitalization of $103.29 billion, a P/E ratio of 25.11, a P/E/G ratio of 2.21 and a beta of 0.96. The business’s 50-day simple moving average is $82.41 and its 200-day simple moving average is $83.88.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share 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 analysts’ expectations of $9.25 billion. During the same period in the previous year, the company posted $1.00 earnings per share. Starbucks’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.50%. Starbucks’s dividend payout ratio is currently 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.