Starbucks Co. (NASDAQ:SBUX) Shares Purchased by BetterWealth LLC

BetterWealth LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,107 shares of the coffee company’s stock after buying an additional 160 shares during the period. BetterWealth LLC’s holdings in Starbucks were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $27,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SBUX shares. Jefferies Financial Group cut their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Bank of America upped their target price on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, TD Cowen reissued a “hold” rating and set a $85.00 price target on shares of Starbucks in a report on Thursday, June 13th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $94.54.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 over the last ninety days. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Down 0.7 %

Shares of NASDAQ:SBUX traded down $0.57 during trading on Thursday, hitting $76.26. 4,906,747 shares of the stock were exchanged, compared to its average volume of 10,392,467. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66. The company has a market cap of $86.38 billion, a PE ratio of 21.01, a P/E/G ratio of 1.68 and a beta of 0.94. The company has a fifty day moving average price of $78.97 and a two-hundred day moving average price of $87.58.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Equities research analysts anticipate that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

About Starbucks

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.