Cable Hill Partners LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cable Hill Partners LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,992 shares of the coffee company’s stock after buying an additional 582 shares during the period. Cable Hill Partners LLC’s holdings in Starbucks were worth $1,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Starbucks by 224.7% during the first quarter. Acadian Asset Management LLC now owns 26,105 shares of the coffee company’s stock worth $2,852,000 after purchasing an additional 18,066 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in Starbucks during the first quarter worth approximately $1,524,000. Quilter Plc increased its position in Starbucks by 8.5% during the first quarter. Quilter Plc now owns 7,796 shares of the coffee company’s stock worth $852,000 after purchasing an additional 610 shares during the last quarter. Harbour Investments Inc. acquired a new position in Starbucks during the first quarter worth approximately $223,000. Finally, M Holdings Securities Inc. increased its position in Starbucks by 4.9% during the first quarter. M Holdings Securities Inc. now owns 17,953 shares of the coffee company’s stock worth $1,962,000 after purchasing an additional 835 shares during the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Kevin R. Johnson sold 359,177 shares of Starbucks stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $122.81, for a total value of $44,110,527.37. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Culver sold 148,619 shares of Starbucks stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $119.00, for a total transaction of $17,685,661.00. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the stock. MKM Partners increased their price objective on shares of Starbucks from $125.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 28th. Jefferies Financial Group increased their price objective on shares of Starbucks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Atlantic Securities lowered shares of Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research report on Thursday, September 30th. TheStreet raised shares of Starbucks from a “c” rating to a “b-” rating in a research report on Tuesday, July 27th. Finally, Piper Sandler increased their price objective on shares of Starbucks from $104.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 28th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Buy” and an average price target of $127.22.

NASDAQ:SBUX traded up $1.66 during mid-day trading on Thursday, hitting $112.42. The stock had a trading volume of 93,173 shares, compared to its average volume of 5,837,142. The stock has a market capitalization of $132.55 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 3.06 and a beta of 0.88. The company has a 50 day simple moving average of $114.93 and a 200-day simple moving average of $114.70. Starbucks Co. has a 52 week low of $85.45 and a 52 week high of $126.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Monday, July 26th. The coffee company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.23. The firm had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.26 billion. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. Starbucks’s quarterly revenue was up 77.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.46) EPS. Equities research analysts anticipate that Starbucks Co. will post 3.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 26th. Shareholders of record on Friday, November 12th will be paid a dividend of $0.49 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $1.96 annualized dividend and a yield of 1.74%. Starbucks’s dividend payout ratio (DPR) is presently 153.85%.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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