Motiv8 Investments LLC Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

Motiv8 Investments LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 33.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,478 shares of the coffee company’s stock after purchasing an additional 1,887 shares during the quarter. Motiv8 Investments LLC’s holdings in Starbucks were worth $582,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Mine & Arao Wealth Creation & Management LLC. grew its position in shares of Starbucks by 6.1% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 3,256 shares of the coffee company’s stock valued at $253,000 after purchasing an additional 187 shares during the period. Patron Partners LLC grew its position in shares of Starbucks by 4.5% in the second quarter. Patron Partners LLC now owns 9,684 shares of the coffee company’s stock valued at $754,000 after purchasing an additional 415 shares during the period. Advisor OS LLC grew its position in shares of Starbucks by 20.6% in the second quarter. Advisor OS LLC now owns 10,418 shares of the coffee company’s stock valued at $811,000 after purchasing an additional 1,781 shares during the period. Weil Company Inc. grew its position in shares of Starbucks by 1.4% in the second quarter. Weil Company Inc. now owns 26,358 shares of the coffee company’s stock valued at $2,052,000 after purchasing an additional 361 shares during the period. Finally, New York Life Investment Management LLC grew its position in shares of Starbucks by 1.0% in the second quarter. New York Life Investment Management LLC now owns 172,681 shares of the coffee company’s stock valued at $13,443,000 after purchasing an additional 1,746 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. TD Cowen boosted their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup boosted their price target on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.41 during trading hours on Friday, hitting $91.15. The company had a trading volume of 9,257,004 shares, compared to its average volume of 11,966,935. The company’s 50-day moving average is $82.41 and its two-hundred day moving average is $83.94. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market cap of $103.25 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its 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 business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction 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 in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 in the last 90 days. Company insiders own 1.98% of the company’s stock.

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.