Pittenger & Anderson Inc. Has $530,000 Position in Starbucks Co. (NASDAQ:SBUX)

Pittenger & Anderson Inc. cut its stake in Starbucks Co. (NASDAQ:SBUXGet Rating) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,944 shares of the coffee company’s stock after selling 187 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Starbucks were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SBUX. Guardian Wealth Management Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at about $25,000. Delos Wealth Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $28,000. Bromfield Sneider Wealth Advisors bought a new stake in shares of Starbucks during the first quarter valued at approximately $25,000. Burleson & Company LLC grew its stake in shares of Starbucks by 2,660.0% during the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 266 shares during the last quarter. Finally, Herold Advisors Inc. bought a new position in Starbucks in the first quarter valued at approximately $29,000. 67.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other Starbucks news, Director Mellody L. Hobson acquired 54,750 shares of Starbucks stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the completion of the transaction, the director now owns 433,254 shares in the company, valued at approximately $40,110,655.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Zabrina Jenkins sold 4,020 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mellody L. Hobson bought 54,750 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the acquisition, the director now directly owns 433,254 shares in the company, valued at approximately $40,110,655.32. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBUX. Cowen lifted their price target on shares of Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. Piper Sandler lifted their target price on shares of Starbucks from $84.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, September 16th. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, September 14th. Fubon Bank upgraded shares of Starbucks from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Wednesday, September 14th. Finally, Sanford C. Bernstein initiated coverage on shares of Starbucks in a research report on Wednesday, September 7th. They set a “market perform” rating and a $94.00 price objective for the company. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.71.

Starbucks Trading Down 4.4 %

SBUX stock opened at $84.70 on Friday. The business’s fifty day moving average price is $86.02 and its 200 day moving average price is $81.48. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $117.80. The company has a market capitalization of $97.18 billion, a PE ratio of 23.86, a P/E/G ratio of 2.39 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last announced its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same period in the prior year, the firm earned $1.01 EPS. Research analysts predict that Starbucks Co. will post 2.88 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio is presently 55.21%.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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