Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,657 shares of the coffee company’s stock after acquiring an additional 326 shares during the period. Agate Pass Investment Management LLC’s holdings in Starbucks were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vima LLC acquired a new position in shares of Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the fourth quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the fourth quarter worth about $27,000. Fairman Group LLC bought a new stake in Starbucks in the fourth quarter worth about $30,000. Finally, Cypress Capital Management LLC WY lifted its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,250 shares of company stock worth $579,375. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX traded up $18.87 during mid-day trading on Tuesday, reaching $95.90. The stock had a trading volume of 156,973,288 shares, compared to its average volume of 11,757,102. The stock has a market cap of $108.63 billion, a P/E ratio of 25.69, a PEG ratio of 1.80 and a beta of 0.94. The business’s 50 day moving average is $77.18 and its 200 day moving average is $83.82. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

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

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.38%. Starbucks’s payout ratio is 62.81%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets decreased their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Guggenheim dropped their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Fourteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $93.04.

Starbucks 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.