H&H Retirement Design & Management INC Raises Position in Starbucks Co. (NASDAQ:SBUX)

H&H Retirement Design & Management INC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 42.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,097 shares of the coffee company’s stock after purchasing an additional 2,124 shares during the period. H&H Retirement Design & Management INC’s holdings in Starbucks were worth $543,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SBUX. Richard W. Paul & Associates LLC raised its position in shares of Starbucks by 24.2% in the second quarter. Richard W. Paul & Associates LLC now owns 10,113 shares of the coffee company’s stock valued at $787,000 after purchasing an additional 1,969 shares during the period. Griffin Asset Management Inc. raised its holdings in Starbucks by 14.1% during the 2nd quarter. Griffin Asset Management Inc. now owns 119,955 shares of the coffee company’s stock valued at $9,339,000 after acquiring an additional 14,809 shares during the period. Inlet Private Wealth LLC purchased a new stake in shares of Starbucks during the second quarter worth $568,000. Keeler Thomas Management LLC boosted its holdings in shares of Starbucks by 124.2% in the second quarter. Keeler Thomas Management LLC now owns 5,048 shares of the coffee company’s stock worth $412,000 after acquiring an additional 2,796 shares during the period. Finally, Granite Group Advisors LLC grew its position in shares of Starbucks by 46.4% in the second quarter. Granite Group Advisors LLC now owns 28,643 shares of the coffee company’s stock valued at $2,230,000 after purchasing an additional 9,082 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value 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 $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Starbucks news, 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 value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.4 %

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

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 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 analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

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

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Jefferies Financial Group reduced their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. HSBC lowered their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Finally, UBS Group reduced their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

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.