Powers Advisory Group LLC Buys 582 Shares of Starbucks Co. (NASDAQ:SBUX)

Powers Advisory Group LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,875 shares of the coffee company’s stock after buying an additional 582 shares during the period. Powers Advisory Group LLC’s holdings in Starbucks were worth $613,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orca Investment Management LLC increased its stake in shares of Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares during the period. Cox Capital Mgt LLC lifted its holdings in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares in the last quarter. Summa Corp. bought a new stake in shares of Starbucks in the fourth quarter valued at about $384,000. Brevan Howard Capital Management LP acquired a new position in shares of Starbucks in the fourth quarter valued at about $2,781,000. Finally, FFT Wealth Management LLC bought a new position in Starbucks during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SBUX. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. UBS Group lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Stock Performance

Shares of Starbucks stock traded up $1.59 on Friday, hitting $94.02. The stock had a trading volume of 11,478,008 shares, compared to its average volume of 12,025,455. The stock has a 50 day moving average of $79.22 and a 200 day moving average of $83.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market capitalization of $106.50 billion, a P/E ratio of 25.79, a PEG ratio of 2.28 and a beta of 0.94.

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, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,790 shares of company stock worth $865,514. 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.