Centric Wealth Management Acquires 305 Shares of Starbucks Co. (NASDAQ:SBUX)

Centric Wealth Management lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,873 shares of the coffee company’s stock after buying an additional 305 shares during the quarter. Centric Wealth Management’s holdings in Starbucks were worth $828,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Lake Point Wealth Management acquired a new stake in shares of Starbucks in the 4th quarter worth about $25,000. Cowen Prime Services LLC acquired a new stake in shares of Starbucks in the 1st quarter worth about $26,000. Paragon Capital Management LLC acquired a new stake in shares of Starbucks in the 1st quarter worth about $29,000. C J Advisory Inc acquired a new stake in shares of Starbucks in the 1st quarter worth about $34,000. Finally, Somerset Trust Co increased its holdings in shares of Starbucks by 159.2% in the 1st quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock worth $61,000 after acquiring an additional 503 shares during the period. Institutional investors own 72.54% of the company’s stock.

In other news, CAO Jill Walker sold 6,492 shares of Starbucks stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 SEC, which is available at this link. Also, insider Kevin R. Johnson sold 23,390 shares of Starbucks stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The disclosure for this sale can be found here. Insiders sold a total of 69,801 shares of company stock worth $6,301,684 in the last ninety days. Corporate insiders own 3.98% of the company’s stock.

A number of research firms recently weighed in on SBUX. Wedbush increased their price objective on shares of Starbucks from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Credit Suisse Group began coverage on shares of Starbucks in a report on Tuesday, June 25th. They issued an “outperform” rating and a $92.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Starbucks from $86.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley increased their price objective on shares of Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. One equities research 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’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $89.53.

Starbucks stock opened at $95.53 on Friday. The stock has a market cap of $113.61 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.62 and a beta of 0.55. The company’s 50-day moving average price is $91.61 and its two-hundred day moving average price is $79.38. Starbucks Co. has a 52 week low of $52.42 and a 52 week high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 2.82 earnings per share for the current year.

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.51%. Starbucks’s dividend payout ratio is currently 59.50%.

Starbucks Company 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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