Calton & Associates Inc. Purchases 3,136 Shares of Starbucks Co. (NASDAQ:SBUX)

Calton & Associates Inc. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 77.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,201 shares of the coffee company’s stock after buying an additional 3,136 shares during the quarter. Calton & Associates Inc.’s holdings in Starbucks were worth $604,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Rowland & Co. Investment Counsel ADV raised its holdings in shares of Starbucks by 7.8% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 2,501 shares of the coffee company’s stock valued at $209,000 after buying an additional 180 shares during the last quarter. Centric Wealth Management raised its holdings in shares of Starbucks by 3.2% in the second quarter. Centric Wealth Management now owns 9,873 shares of the coffee company’s stock valued at $828,000 after buying an additional 305 shares during the last quarter. Pacific Financial Group Inc. bought a new position in shares of Starbucks in the second quarter valued at about $276,000. Signature Wealth Management Group raised its holdings in shares of Starbucks by 3.8% in the second quarter. Signature Wealth Management Group now owns 9,409 shares of the coffee company’s stock valued at $826,000 after buying an additional 342 shares during the last quarter. Finally, Pinnacle Bank raised its holdings in shares of Starbucks by 3.4% in the second quarter. Pinnacle Bank now owns 5,077 shares of the coffee company’s stock valued at $426,000 after buying an additional 165 shares during the last quarter. 72.54% of the stock is owned by institutional investors and hedge funds.

Shares of SBUX stock opened at $95.53 on Friday. The stock has a market cap of $113.61 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 2.62 and a beta of 0.55. The stock has a 50-day moving average of $91.61 and a 200-day moving average of $79.38. Starbucks Co. has a one year low of $52.42 and a one year high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. Starbucks’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. Analysts anticipate that Starbucks Co. will post 2.82 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.51%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

In other news, CAO Jill Walker sold 6,492 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $95.00, for a total value of $947,435.00. Following the completion of the transaction, the director now owns 28,390 shares of the company’s stock, valued at $2,697,050. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,801 shares of company stock valued at $6,301,684. 3.98% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on the company. Wedbush lifted their price target on Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, July 26th. UBS Group lifted their price target on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Telsey Advisory Group reissued a “market perform” rating and set a $90.00 price objective (up from $80.00) on shares of Starbucks in a report on Friday, July 26th. Stephens boosted their price objective on Starbucks from $72.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Oppenheimer boosted their price objective on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and an average price target of $89.53.

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: SEC Filing

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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