Brown Miller Wealth Management LLC Purchases 1,958 Shares of Starbucks Co. (NASDAQ:SBUX)

Brown Miller Wealth Management LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 5.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 41,410 shares of the coffee company’s stock after purchasing an additional 1,958 shares during the quarter. Starbucks accounts for 1.7% of Brown Miller Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Brown Miller Wealth Management LLC’s holdings in Starbucks were worth $3,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $27,000. Fairman Group LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $30,000. Finally, Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Stifel Nicolaus cut their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. BTIG Research cut their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Starbucks in a report on Thursday, June 13th. Finally, Guggenheim cut their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. 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, the stock currently has an average rating of “Hold” and a consensus price target of $94.54.

Starbucks Trading Down 1.7 %

Shares of SBUX stock traded down $1.39 during trading hours on Friday, hitting $77.85. 13,207,542 shares of the company were exchanged, compared to its average volume of 10,825,160. The business has a 50 day moving average of $79.66 and a two-hundred day moving average of $88.02. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The company has a market capitalization of $88.18 billion, a PE ratio of 21.45, a PEG ratio of 1.70 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. On average, research analysts forecast that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is 62.81%.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, 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. Insiders sold 10,750 shares of company stock valued at $878,893 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Starbucks 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.