Starbucks Co. (NASDAQ:SBUX) Holdings Trimmed by Pacifica Capital Investments LLC

Pacifica Capital Investments LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 420,004 shares of the coffee company’s stock after selling 1,800 shares during the period. Starbucks comprises approximately 11.7% of Pacifica Capital Investments LLC’s portfolio, making the stock its 3rd biggest position. Pacifica Capital Investments LLC’s holdings in Starbucks were worth $32,697,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SBUX. Cox Capital Mgt LLC raised 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 acquiring an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Starbucks during the 4th quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC increased its holdings in Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $4,048,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBUX shares. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, TD Cowen raised their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $99.42.

Insider Buying and Selling

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 transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $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. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.2 %

Shares of SBUX stock traded up $0.14 during mid-day trading on Friday, reaching $91.70. The stock had a trading volume of 541,437 shares, compared to its average volume of 11,915,348. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market cap of $103.87 billion, a PE ratio of 25.22, a P/E/G ratio of 2.26 and a beta of 0.96. The firm’s 50 day simple moving average is $82.14 and its 200 day simple moving average is $83.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. Starbucks’s payout ratio is currently 62.81%.

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.