Pacific Sun Financial Corp purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,555 shares of the coffee company’s stock, valued at approximately $382,000.
Other hedge funds have also modified their holdings of the company. Enterprise Trust & Investment Co acquired a new stake in shares of Starbucks in the 2nd quarter worth $25,000. Northern Oak Wealth Management Inc. increased its stake in shares of Starbucks by 95.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after purchasing an additional 177 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $32,000. Atlas Capital Advisors LLC increased its stake in shares of Starbucks by 53.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after purchasing an additional 145 shares in the last quarter. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $42,000. 70.74% of the stock is owned by hedge funds and other institutional investors.
Shares of SBUX traded up $0.36 during trading hours on Wednesday, reaching $91.12. The stock had a trading volume of 424,387 shares, compared to its average volume of 6,298,543. Starbucks Co. has a 12 month low of $54.10 and a 12 month high of $99.72. The firm has a 50-day simple moving average of $95.20 and a 200 day simple moving average of $83.18. The company has a market capitalization of $108.30 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 2.46 and a beta of 0.56.
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Thursday, August 8th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.58%. Starbucks’s payout ratio is 59.50%.
In other Starbucks news, EVP Vivek C. Varma sold 21,128 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $95.86, for a total value of $2,025,330.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin R. Johnson sold 23,390 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Insiders sold a total of 142,767 shares of company stock valued at $13,690,565 in the last 90 days. 3.98% of the stock is currently owned by corporate insiders.
SBUX has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on shares of Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. UBS Group boosted their target price on shares of Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. KeyCorp boosted their target price on shares of Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. BTIG Research reissued a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. Finally, OTR Global raised shares of Starbucks to a “positive” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Starbucks has an average rating of “Hold” and a consensus target price of $89.53.
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.
Further Reading: Return on Investment (ROI)
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