ORG Partners LLC Boosts Position in Starbucks Co. (NASDAQ:SBUX)

ORG Partners LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 292.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,701 shares of the coffee company’s stock after acquiring an additional 2,757 shares during the quarter. ORG Partners LLC’s holdings in Starbucks were worth $286,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in Starbucks by 10.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 159,460 shares of the coffee company’s stock valued at $15,310,000 after purchasing an additional 14,671 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Starbucks during the 4th quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. increased its position in Starbucks by 772.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,920 shares of the coffee company’s stock valued at $184,000 after purchasing an additional 1,700 shares during the period. Keel Point LLC increased its position in Starbucks by 8.6% during the 4th quarter. Keel Point LLC now owns 5,235 shares of the coffee company’s stock valued at $503,000 after purchasing an additional 415 shares during the period. Finally, Flputnam Investment Management Co. increased its position in Starbucks by 25.0% during the 4th quarter. Flputnam Investment Management Co. now owns 4,573 shares of the coffee company’s stock valued at $439,000 after purchasing an additional 915 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 2.1 %

SBUX traded down $2.00 during trading on Wednesday, reaching $93.90. 45,695,191 shares of the company were exchanged, compared to its average volume of 11,976,861. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market cap of $106.41 billion, a P/E ratio of 25.26, a PEG ratio of 1.80 and a beta of 0.94. The firm has a 50 day moving average of $77.44 and a 200 day moving average of $83.84.

Starbucks (NASDAQ:SBUX) last announced its 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 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 analysts’ expectations of $9.25 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal 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 issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 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 ninety days, insiders sold 7,250 shares of company stock valued at $579,375. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. HSBC cut their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, BMO Capital Markets cut their target price on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve investment analysts have rated the stock with 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.79.

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.