Boomfish Wealth Group LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Boomfish Wealth Group LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,343 shares of the coffee company’s stock after purchasing an additional 1,618 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Starbucks were worth $1,194,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SBUX. First National Trust Co lifted its holdings 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 during the last quarter. Graybill Wealth Management LTD. raised its stake in Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after buying an additional 109 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the period. Valmark Advisers Inc. lifted its stake in shares of Starbucks by 1.1% in the 4th quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock worth $1,042,000 after purchasing an additional 123 shares during the period. Finally, McAdam LLC grew its position in shares of Starbucks by 3.3% during the 4th quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock valued at $367,000 after acquiring an additional 124 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several research analyst reports. Barclays boosted their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.79.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,540 shares of company stock worth $879,291. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Up 0.5 %

NASDAQ:SBUX traded up $0.50 during trading hours on Friday, hitting $94.81. 16,336,331 shares of the company’s stock traded hands, compared to its average volume of 22,615,598. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market cap of $107.39 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.25 and a beta of 0.94. The business’s fifty day simple moving average is $78.23 and its two-hundred day simple moving average is $83.92.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the company posted $1.00 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 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.