Cable Hill Partners LLC Has $1.12 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cable Hill Partners LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% in the 2nd quarter, HoldingsChannel reports. 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SBUX. Wagner Wealth Management LLC bought a new position in Starbucks during the 1st quarter worth $26,000. Joseph P. Lucia & Associates LLC increased its position in shares of Starbucks by 132.7% in the second quarter. Joseph P. Lucia & Associates LLC now owns 256 shares of the coffee company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Isthmus Partners LLC bought a new position in shares of Starbucks in the second quarter worth $31,000. Danda Trouve Investment Management Inc. bought a new position in shares of Starbucks in the second quarter worth $36,000. Finally, WD Rutherford LLC boosted its stake in Starbucks by 39.6% in the second quarter. WD Rutherford LLC now owns 370 shares of the coffee company’s stock valued at $41,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 68.27% of the company’s stock.

A number of analysts have recently commented on the company. Piper Sandler lifted their price target on Starbucks from $104.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 28th. Royal Bank of Canada lifted their target price on Starbucks from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Atlantic Securities downgraded Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 target price for the company. in a report on Thursday, September 30th. Morgan Stanley lowered their target price on Starbucks from $125.00 to $124.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Monday. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Buy” and a consensus price target of $127.22.

In related news, COO John Culver sold 148,619 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin R. Johnson sold 359,177 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

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

Starbucks (NASDAQ:SBUX) last released its earnings results on Monday, July 26th. The coffee company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.23. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.26 billion. Starbucks had a negative return on equity of 43.16% and a net margin of 10.43%. The firm’s revenue for the quarter was up 77.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.46) EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.25 earnings per share for the current fiscal year.

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

Starbucks Company 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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