Starbucks Co. (NASDAQ:SBUX) Shares Bought by Gradient Investments LLC

Gradient Investments LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,027 shares of the coffee company’s stock after buying an additional 31,705 shares during the quarter. Gradient Investments LLC’s holdings in Starbucks were worth $24,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vima LLC acquired a new stake in Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks in the 4th quarter valued at about $27,000. Fairman Group LLC purchased a new position in Starbucks in the 4th quarter valued at about $30,000. Finally, Cypress Capital Management LLC WY lifted its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.5 %

Shares of SBUX traded up $0.50 during midday trading on Friday, reaching $94.81. 16,336,331 shares of the company were exchanged, compared to its average volume of 12,062,401. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a 50-day moving average price of $78.23 and a 200-day moving average price of $84.00. The company has a market cap of $107.44 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company posted $1.00 EPS. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Analyst Ratings Changes

SBUX has been the subject of a number of analyst reports. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday. TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $81.00 to $105.00 in a report on Tuesday. The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. UBS Group lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.79.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, 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 value of $260,000.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 10,540 shares of company stock valued at $879,291 in the last quarter. Company insiders own 1.98% of the company’s stock.

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.