Donald L. Hagan LLC Acquires 2,110 Shares of Starbucks Co. (NASDAQ:SBUX)

Donald L. Hagan LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 19.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,180 shares of the coffee company’s stock after buying an additional 2,110 shares during the period. Donald L. Hagan LLC’s holdings in Starbucks were worth $1,026,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup increased their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Bank of America increased their price objective on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets lowered their price target on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, UBS Group lowered their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.79.

Starbucks Stock Performance

SBUX traded up $0.50 on Friday, hitting $94.81. 16,336,331 shares of the company were exchanged, compared to its average volume of 22,615,598. The firm has a fifty day simple moving average of $78.23 and a two-hundred day simple moving average of $83.86. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $107.39 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (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 for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company earned $1.00 EPS. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

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 is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which is available through this link. In other 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 transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available at 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 completion of the transaction, 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 three months, insiders have sold 10,540 shares of company stock worth $879,291. 1.98% of the stock is currently owned by insiders.

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.