Starbucks Co. (NASDAQ:SBUX) Shares Sold by Orca Investment Management LLC

Orca Investment Management LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,893 shares of the coffee company’s stock after selling 313 shares during the quarter. Orca Investment Management LLC’s holdings in Starbucks were worth $537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Graybill Wealth Management LTD. raised its stake in shares of Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after acquiring an additional 109 shares during the period. Versant Capital Management Inc lifted its stake in Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its position in shares of Starbucks by 2.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares during the period. Bedel Financial Consulting Inc. grew its stake in shares of Starbucks by 2.1% in the fourth quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after buying an additional 132 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after buying an additional 133 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. TD Cowen raised their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Starbucks Price Performance

NASDAQ SBUX opened at $91.15 on Friday. The company has a fifty day moving average of $82.41 and a two-hundred day moving average of $83.88. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market capitalization of $103.29 billion, a PE ratio of 25.11, a P/E/G ratio of 2.21 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm 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 business posted $1.00 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.57 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.50%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 in the last 90 days. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.