HBC Financial Services PLLC Has $4.75 Million Position in Starbucks Co. (NASDAQ:SBUX)

HBC Financial Services PLLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 43,878 shares of the coffee company’s stock after selling 899 shares during the period. Starbucks comprises about 3.6% of HBC Financial Services PLLC’s investment portfolio, making the stock its 5th biggest holding. HBC Financial Services PLLC’s holdings in Starbucks were worth $4,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. J.Safra Asset Management Corp purchased a new stake in Starbucks in the 1st quarter worth approximately $130,000. LaSalle St. Investment Advisors LLC purchased a new stake in Starbucks in the 1st quarter worth approximately $374,000. Financial Avengers Inc. lifted its position in Starbucks by 1.0% in the 1st quarter. Financial Avengers Inc. now owns 30,490 shares of the coffee company’s stock worth $3,175,000 after buying an additional 294 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Starbucks by 2.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 91,815 shares of the coffee company’s stock worth $9,561,000 after buying an additional 2,465 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Starbucks by 2.7% in the 1st quarter. Prudential Financial Inc. now owns 2,379,686 shares of the coffee company’s stock worth $247,797,000 after buying an additional 61,899 shares in the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total value of $68,307.40. Following the transaction, the chief financial officer now directly owns 54,761 shares in the company, valued at $5,508,956.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SBUX shares. Bank of America raised their price target on shares of Starbucks from $131.00 to $150.00 and gave the company a “buy” rating in a report on Friday, July 21st. Barclays cut their price target on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. Wells Fargo & Company cut their price target on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, July 19th. Wedbush cut their price target on shares of Starbucks from $112.00 to $105.00 in a report on Wednesday, August 2nd. Finally, TD Cowen restated an “outperform” rating and set a $117.00 price target on shares of Starbucks in a report on Wednesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.88.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.87 during trading on Tuesday, hitting $97.13. 2,575,290 shares of the company’s stock traded hands, compared to its average volume of 6,238,100. The firm’s fifty day moving average price is $99.56 and its 200 day moving average price is $101.92. Starbucks Co. has a twelve month low of $81.67 and a twelve month high of $115.48. The company has a market cap of $111.25 billion, a PE ratio of 29.73, a PEG ratio of 1.72 and a beta of 0.93.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, August 1st. The coffee company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Co. will post 3.45 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a $0.53 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.12 dividend on an annualized basis and a yield of 2.18%. Starbucks’s dividend payout ratio (DPR) is presently 64.63%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.