Farther Finance Advisors LLC Has $2.72 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Farther Finance Advisors LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,251 shares of the coffee company’s stock after purchasing an additional 3,262 shares during the period. Farther Finance Advisors LLC’s holdings in Starbucks were worth $2,719,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GUNN & Co INVESTMENT MANAGEMENT INC. increased its position in Starbucks by 1,299.8% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock valued at $44,789,000 after buying an additional 433,179 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Starbucks by 0.4% during the fourth quarter. Van ECK Associates Corp now owns 78,931 shares of the coffee company’s stock valued at $7,579,000 after acquiring an additional 343 shares in the last quarter. SouthState Corp lifted its holdings in shares of Starbucks by 3.5% in the 4th quarter. SouthState Corp now owns 3,738 shares of the coffee company’s stock worth $359,000 after purchasing an additional 126 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in Starbucks by 4.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 8,004 shares of the coffee company’s stock valued at $768,000 after purchasing an additional 314 shares during the period. Finally, Blue Fin Capital Inc. bought a new stake in Starbucks during the 4th quarter valued at $202,000. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was 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 in the company, valued at $6,264,320. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Friday, June 14th. The stock was 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 sold a total of 9,790 shares of company stock valued at $865,514 in the last three months. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.29 during trading on Friday, hitting $94.57. 7,117,159 shares of the company were exchanged, compared to its average volume of 21,091,858. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a 50 day moving average of $81.06 and a 200 day moving average of $83.91. The company has a market cap of $107.17 billion, a PE ratio of 26.05, a P/E/G ratio of 2.26 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.41%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SBUX shares. Bank of America lifted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. TD Cowen raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $81.00 to $105.00 in a report on Tuesday, August 13th. Finally, Citigroup increased their target price on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.21.

Starbucks 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.