Donald L. Hagan LLC Raises Position in Starbucks Co. (NASDAQ:SBUX)

Donald L. Hagan LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.1% during the second quarter, HoldingsChannel reports. The firm owned 13,180 shares of the coffee company’s stock after buying an additional 2,110 shares during the quarter. Donald L. Hagan LLC’s holdings in Starbucks were worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Norges Bank purchased a new stake in Starbucks during the fourth quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks during the first quarter valued at approximately $415,167,000. Flossbach Von Storch AG grew its stake in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Capital World Investors bought a new position in shares of Starbucks during the first quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp grew its stake in shares of Starbucks by 2,624.3% during the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after buying an additional 2,071,378 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. BTIG Research cut their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday. HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $98.79.

Starbucks Price Performance

NASDAQ SBUX traded up $0.50 during midday trading on Friday, hitting $94.81. 16,336,331 shares of the company traded hands, compared to its average volume of 22,615,598. The company has a market cap of $107.39 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The company’s 50-day simple moving average is $78.23 and its 200-day simple moving average is $83.86. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,540 shares of company stock worth $879,291. Insiders own 1.98% of the company’s stock.

Starbucks Profile

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.