ORG Partners LLC Grows Stake in Starbucks Co. (NASDAQ:SBUX)

ORG Partners LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 292.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,701 shares of the coffee company’s stock after purchasing an additional 2,757 shares during the period. ORG Partners LLC’s holdings in Starbucks were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBUX. Great Valley Advisor Group Inc. raised its holdings in Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after purchasing an additional 5,377 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Starbucks by 4.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 555,484 shares of the coffee company’s stock valued at $43,244,000 after acquiring an additional 24,164 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Starbucks by 4.7% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 166,236 shares of the coffee company’s stock valued at $12,941,000 after acquiring an additional 7,458 shares in the last quarter. Apeiron RIA LLC grew its holdings in shares of Starbucks by 13.5% during the 2nd quarter. Apeiron RIA LLC now owns 3,350 shares of the coffee company’s stock valued at $261,000 after acquiring an additional 399 shares in the last quarter. Finally, Maia Wealth LLC purchased a new position in shares of Starbucks during the 2nd quarter valued at $799,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $579,375. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research report on Wednesday. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $110.00 in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.79.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $2.00 during midday trading on Wednesday, reaching $93.90. 45,695,191 shares of the stock traded hands, compared to its average volume of 11,976,861. The stock has a market capitalization of $106.41 billion, a PE ratio of 25.26, a P/E/G ratio of 1.80 and a beta of 0.94. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company’s 50 day moving average is $77.44 and its 200 day moving average is $83.84.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced 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 dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.