Sigma Planning Corp Buys 6,876 Shares of Starbucks Co. (NASDAQ:SBUX)

Sigma Planning Corp grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 16.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,649 shares of the coffee company’s stock after acquiring an additional 6,876 shares during the period. Sigma Planning Corp’s holdings in Starbucks were worth $4,162,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Abbrea Capital LLC grew its holdings in Starbucks by 1.9% in the second quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock worth $463,000 after purchasing an additional 105 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in Starbucks by 0.4% in the second quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock worth $2,528,000 after purchasing an additional 120 shares during the last quarter. D.B. Root & Company LLC grew its holdings in Starbucks by 0.8% in the second quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after purchasing an additional 122 shares during the last quarter. Grove Bank & Trust grew its holdings in Starbucks by 3.0% in the second quarter. Grove Bank & Trust now owns 4,373 shares of the coffee company’s stock worth $367,000 after purchasing an additional 128 shares during the last quarter. Finally, Community Bank N.A. grew its holdings in Starbucks by 2.1% in the first quarter. Community Bank N.A. now owns 6,783 shares of the coffee company’s stock worth $504,000 after purchasing an additional 140 shares during the last quarter. 72.54% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $90.00 price target (up from $80.00) on shares of Starbucks in a report on Friday, July 26th. JPMorgan Chase & Co. lowered shares of Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. Goldman Sachs Group assumed coverage on shares of Starbucks in a report on Monday, July 29th. They issued a “buy” rating and a $110.00 price target on the stock. Robert W. Baird lowered shares of Starbucks from an “outperform” rating to a “neutral” rating in a report on Monday, July 29th. Finally, Bank of America set a $85.00 price target on shares of Starbucks and gave the stock a “buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $89.53.



In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 owns 28,390 shares in the company, valued at $2,697,050. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin R. Johnson sold 23,390 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The disclosure for this sale can be found here. Insiders have sold 69,801 shares of company stock valued at $6,301,684 over the last 90 days. 3.98% of the stock is currently owned by insiders.

NASDAQ SBUX traded up $0.81 on Friday, reaching $96.34. 239,491 shares of the company’s stock traded hands, compared to its average volume of 8,121,147. The firm has a market cap of $115.67 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 2.67 and a beta of 0.55. The stock has a 50 day moving average price of $91.61 and a 200-day moving average price of $79.38. Starbucks Co. has a fifty-two week low of $52.42 and a fifty-two week high of $99.72.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.49%. Starbucks’s dividend payout ratio is presently 59.50%.

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.

Featured Story: Quick Ratio

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.