Pacific Sun Financial Corp Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Pacific Sun Financial Corp purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 4,555 shares of the coffee company’s stock, valued at approximately $382,000.

Other large investors have also made changes to their positions in the company. FMR LLC lifted its stake in shares of Starbucks by 19.8% in the 1st quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock valued at $774,936,000 after purchasing an additional 1,720,231 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Starbucks by 8.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,810,825 shares of the coffee company’s stock worth $487,122,000 after acquiring an additional 462,682 shares during the period. APG Asset Management N.V. lifted its position in Starbucks by 87.0% during the 2nd quarter. APG Asset Management N.V. now owns 5,538,794 shares of the coffee company’s stock worth $407,725,000 after acquiring an additional 2,576,900 shares during the period. Prudential Financial Inc. lifted its position in Starbucks by 166.3% during the 2nd quarter. Prudential Financial Inc. now owns 3,901,446 shares of the coffee company’s stock worth $327,058,000 after acquiring an additional 2,436,385 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in Starbucks by 3.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,621,973 shares of the coffee company’s stock worth $303,630,000 after acquiring an additional 137,401 shares during the period. 70.74% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SBUX traded up $0.36 during trading hours on Wednesday, hitting $91.12. 424,387 shares of the stock were exchanged, compared to its average volume of 6,298,543. Starbucks Co. has a 52-week low of $54.10 and a 52-week high of $99.72. The firm’s fifty day moving average price is $95.20 and its 200 day moving average price is $83.18. The company has a market cap of $108.30 billion, a P/E ratio of 37.65, a P/E/G ratio of 2.46 and a beta of 0.56.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the previous year, the business earned $0.62 EPS. Starbucks’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.58%. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

A number of brokerages have commented on SBUX. Piper Jaffray Companies lifted their price target on Starbucks from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, June 10th. They noted that the move was a valuation call. BMO Capital Markets boosted their price objective on Starbucks to $84.00 and gave the company a “market perform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Evercore ISI initiated coverage on Starbucks in a report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 price objective for the company. Cowen set a $93.00 price target on Starbucks and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, OTR Global upgraded Starbucks to a “positive” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.53.

In other news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the completion of the sale, the director now directly owns 28,390 shares in the company, valued at $2,402,929.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Javier G. Teruel sold 59,838 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,767 shares of company stock valued at $13,690,565. 3.98% of the stock is owned by company insiders.

Starbucks 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.

Further Reading: Stochastic Momentum Index (SMI)

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.