Orion Portfolio Solutions LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 26.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,687 shares of the coffee company’s stock after buying an additional 1,797 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Starbucks were worth $639,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. HighMark Wealth Management LLC lifted its stake in shares of Starbucks by 351.9% during the 2nd quarter. HighMark Wealth Management LLC now owns 366 shares of the coffee company’s stock valued at $27,000 after buying an additional 285 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Starbucks by 175.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 372 shares of the coffee company’s stock valued at $27,000 after buying an additional 237 shares in the last quarter. Centerpoint Advisors LLC lifted its stake in Starbucks by 4,644.4% in the 2nd quarter. Centerpoint Advisors LLC now owns 427 shares of the coffee company’s stock worth $31,000 after purchasing an additional 418 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its stake in Starbucks by 63.5% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 453 shares of the coffee company’s stock worth $33,000 after purchasing an additional 176 shares in the last quarter. Finally, Column Capital Advisors LLC lifted its stake in Starbucks by 57.0% in the 1st quarter. Column Capital Advisors LLC now owns 468 shares of the coffee company’s stock worth $31,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.
In other news, Director Clara Shih sold 37,498 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $79.13, for a total value of $2,967,216.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $84.77, for a total transaction of $360,442.04. The disclosure for this sale can be found here. In the last three months, insiders sold 46,002 shares of company stock worth $3,642,689. Insiders own 0.41% of the company’s stock.
Starbucks stock traded up $1.57 during trading hours on Wednesday, reaching $89.28. The stock had a trading volume of 179,684 shares, compared to its average volume of 10,983,878. The stock has a market cap of $102.53 billion, a PE ratio of 80.44, a PEG ratio of 6.38 and a beta of 0.81. Starbucks Co. has a 52 week low of $50.02 and a 52 week high of $94.13. The company has a fifty day simple moving average of $80.61 and a 200-day simple moving average of $75.44.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.15. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.14 billion. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The company’s revenue was down 38.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Research analysts predict that Starbucks Co. will post 0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Thursday, August 6th. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.
SBUX has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Starbucks from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Wedbush increased their target price on shares of Starbucks from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. They noted that the move was a valuation call. ValuEngine cut shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Morgan Stanley increased their target price on shares of Starbucks from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Finally, Telsey Advisory Group lowered their target price on shares of Starbucks from $90.00 to $80.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 23rd. Sixteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.50.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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