Atlantic Union Bankshares Corp Acquires 3,215 Shares of Starbucks Co. (NASDAQ:SBUX)

Atlantic Union Bankshares Corp lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,550 shares of the coffee company’s stock after purchasing an additional 3,215 shares during the period. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $3,468,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter worth $26,000. Vima LLC purchased a new stake in Starbucks in the 4th quarter worth about $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks in the 4th quarter worth about $27,000. Fairman Group LLC purchased a new stake in Starbucks in the 4th quarter worth about $30,000. Finally, Cypress Capital Management LLC WY increased its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock valued at $865,514 over the last quarter. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 1.7 %

SBUX stock traded up $1.59 during midday trading on Friday, hitting $94.02. The company had a trading volume of 11,483,711 shares, compared to its average volume of 12,025,455. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock’s 50 day moving average price is $79.51 and its 200 day moving average price is $83.99. The stock has a market cap of $106.50 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBUX. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Barclays lifted their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. BTIG Research reduced their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.21.

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.