Hall Capital Management Co. Inc. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Hall Capital Management Co. Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,495 shares of the coffee company’s stock after selling 288 shares during the quarter. Hall Capital Management Co. Inc.’s holdings in Starbucks were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBUX. Klein Pavlis & Peasley Financial Inc. purchased a new stake in Starbucks during the second quarter worth about $2,194,000. Bensler LLC increased its stake in shares of Starbucks by 18.5% during the 2nd quarter. Bensler LLC now owns 22,139 shares of the coffee company’s stock worth $1,724,000 after purchasing an additional 3,455 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Starbucks by 50.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 17,858 shares of the coffee company’s stock valued at $1,390,000 after purchasing an additional 5,986 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in Starbucks by 9.1% during the second quarter. Atomi Financial Group Inc. now owns 10,277 shares of the coffee company’s stock valued at $800,000 after purchasing an additional 859 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Starbucks by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 292,307 shares of the coffee company’s stock worth $22,756,000 after buying an additional 4,567 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Starbucks Stock Performance

NASDAQ:SBUX traded up $2.97 during midday trading on Tuesday, reaching $98.60. 17,449,625 shares of the stock traded hands, compared to its average volume of 12,069,634. The stock has a market capitalization of $111.68 billion, a P/E ratio of 27.16, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a fifty day moving average of $79.79 and a 200 day moving average of $83.82.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm 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%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.31%. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Bank of America raised their price target on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, BTIG Research dropped their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.21.

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.