Halbert Hargrove Russell LLC Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Halbert Hargrove Russell LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to its most recent filing with the SEC. The fund acquired 3,035 shares of the coffee company’s stock, valued at approximately $254,000.

Other large investors also recently added to or reduced their stakes in the company. Lake Point Wealth Management purchased a new position in shares of Starbucks in the 4th quarter worth about $25,000. Cowen Prime Services LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $26,000. Paragon Capital Management LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $29,000. C J Advisory Inc purchased a new position in shares of Starbucks in the 1st quarter worth about $34,000. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of Starbucks by 53.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 71.86% of the company’s stock.

Shares of SBUX opened at $95.22 on Tuesday. The company’s fifty day simple moving average is $89.20. Starbucks Co. has a 12 month low of $51.19 and a 12 month high of $99.72. The stock has a market cap of $114.33 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.55.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. Research analysts forecast that Starbucks Co. will post 2.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.51%. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

A number of research firms have recently issued reports on SBUX. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Tuesday, June 18th. Wedbush increased their target price on Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Goldman Sachs Group initiated coverage on Starbucks in a report on Monday, July 29th. They set a “buy” rating and a $110.00 target price for the company. Credit Suisse Group initiated coverage on Starbucks in a report on Tuesday, June 25th. They set an “outperform” rating and a $92.00 target price for the company. Finally, BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $89.53.

In related news, EVP Lucy Lee Helm sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $83.00, for a total value of $830,000.00. Following the transaction, the executive vice president now directly owns 113,455 shares of the company’s stock, valued at approximately $9,416,765. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $95.00, for a total value of $947,435.00. Following the completion of the transaction, the director now directly owns 28,390 shares in the company, valued at $2,697,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,738 shares of company stock worth $11,291,327. Company insiders own 3.98% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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