Palouse Capital Management Inc. Has $1.72 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Palouse Capital Management Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 2,113.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,135 shares of the coffee company’s stock after purchasing an additional 21,135 shares during the period. Palouse Capital Management Inc.’s holdings in Starbucks were worth $1,723,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vima LLC bought a new position in Starbucks in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the second quarter worth $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC bought a new position in Starbucks during the 4th quarter worth $27,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.12 on Thursday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market cap of $108.92 billion, a PE ratio of 26.48, a PEG ratio of 2.38 and a beta of 0.96. The firm has a 50-day moving average of $85.77 and a 200-day moving average of $83.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. On average, equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Wedbush reiterated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.08.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Company 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.