Starbucks Co. (NASDAQ:SBUX) Shares Bought by Columbia Asset Management

Columbia Asset Management raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,907 shares of the coffee company’s stock after purchasing an additional 3,763 shares during the quarter. Starbucks comprises 1.4% of Columbia Asset Management’s holdings, making the stock its 17th biggest position. Columbia Asset Management’s holdings in Starbucks were worth $7,311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Graybill Wealth Management LTD. boosted its stake in shares of Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after buying an additional 109 shares during the last quarter. Versant Capital Management Inc boosted its position in Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its stake in shares of Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Bedel Financial Consulting Inc. increased its holdings in shares of Starbucks by 2.1% during the 4th quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after purchasing an additional 132 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its stake in shares of Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group cut their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Insider Transactions at Starbucks

In related news, 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 transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

Shares of Starbucks stock opened at $91.56 on Friday. The business has a 50-day simple moving average of $82.14 and a 200-day simple moving average of $83.96. The company has a market cap of $103.71 billion, a PE ratio of 25.22, a P/E/G ratio of 2.26 and a beta of 0.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for 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 EPS. On average, sell-side analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.