Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Jag Capital Management LLC

Jag Capital Management LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 264,738 shares of the coffee company’s stock after buying an additional 29,142 shares during the period. Starbucks makes up about 2.5% of Jag Capital Management LLC’s holdings, making the stock its 10th biggest holding. Jag Capital Management LLC’s holdings in Starbucks were worth $22,193,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Private Vista LLC boosted its position in Starbucks by 5.8% during the 2nd quarter. Private Vista LLC now owns 8,020 shares of the coffee company’s stock worth $671,000 after purchasing an additional 438 shares during the period. D.B. Root & Company LLC boosted its position in Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after purchasing an additional 122 shares during the period. Destination Wealth Management boosted its position in Starbucks by 14.3% during the 2nd quarter. Destination Wealth Management now owns 2,823 shares of the coffee company’s stock worth $237,000 after purchasing an additional 354 shares during the period. Davy Asset Management Ltd purchased a new stake in Starbucks during the 2nd quarter worth $3,629,000. Finally, FDx Advisors Inc. boosted its position in Starbucks by 87.7% during the 2nd quarter. FDx Advisors Inc. now owns 133,787 shares of the coffee company’s stock worth $11,215,000 after purchasing an additional 62,499 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

NASDAQ:SBUX traded up $1.30 on Thursday, reaching $95.99. The stock had a trading volume of 666,351 shares, compared to its average volume of 7,046,123. The stock’s 50-day moving average price is $88.07. The company has a market cap of $116.29 billion, a PE ratio of 39.67, a P/E/G ratio of 2.70 and a beta of 0.55. Starbucks Co. has a 12-month low of $51.19 and a 12-month high of $99.72.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 154.96%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS. Analysts predict that Starbucks Co. will post 2.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.50%. Starbucks’s payout ratio is currently 59.50%.

In other news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Culver sold 63,937 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The disclosure for this sale can be found here. Insiders have sold 117,273 shares of company stock worth $9,722,608 in the last ninety days. Corporate insiders own 3.98% of the company’s stock.

A number of analysts recently weighed in on SBUX shares. Mizuho set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research report on Thursday, April 11th. BMO Capital Markets upped their price target on shares of Starbucks to $84.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Telsey Advisory Group reaffirmed a “market perform” rating and set a $90.00 price target (up from $80.00) on shares of Starbucks in a research report on Friday, July 26th. Goldman Sachs Group started coverage on shares of Starbucks in a research report on Monday. They set a “buy” rating and a $110.00 price target for the company. Finally, Jefferies Financial Group upped their price target on shares of Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $89.53.

Starbucks Profile

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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