Starbucks Co. (NASDAQ:SBUX) Position Raised by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 75.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,500 shares of the coffee company’s stock after purchasing an additional 7,501 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Starbucks were worth $1,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First National Trust Co raised its stake in shares of Starbucks by 2.2% during the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after purchasing an additional 106 shares in the last quarter. Graybill Wealth Management LTD. raised its position in Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after acquiring an additional 109 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its position in Starbucks by 24.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 598 shares of the coffee company’s stock worth $57,000 after acquiring an additional 118 shares in the last quarter. Versant Capital Management Inc raised its position in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares in the last quarter. Finally, Valmark Advisers Inc. raised its position in Starbucks by 1.1% in the fourth quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock worth $1,042,000 after acquiring an additional 123 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 1.0 %

Shares of SBUX stock traded up $0.77 during trading hours on Friday, reaching $75.88. 15,185,688 shares of the company’s stock were exchanged, compared to its average volume of 13,858,536. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock has a market capitalization of $85.99 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.74 and a beta of 0.94. The business has a fifty day moving average price of $77.62 and a 200-day moving average price of $84.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. As a group, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBUX. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Stifel Nicolaus dropped their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Bank of America lifted their target price on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.88.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock worth $579,375 over the last three months. Company insiders own 1.98% of the company’s stock.

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.