Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Evermay Wealth Management LLC

Evermay Wealth Management LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 88.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,048 shares of the coffee company’s stock after buying an additional 491 shares during the quarter. Evermay Wealth Management LLC’s holdings in Starbucks were worth $96,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares in the last quarter. Norges Bank acquired a new stake in Starbucks during the 4th quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC grew its stake in Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Starbucks by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after buying an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its holdings in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group reduced their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Guggenheim reduced their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Wells Fargo & Company reduced their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Wedbush reduced their target price on Starbucks from $81.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, Bank of America increased their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.71.

Starbucks Stock Performance

Shares of SBUX stock traded down $1.36 during mid-day trading on Thursday, hitting $73.32. 18,043,341 shares of the stock traded hands, compared to its average volume of 10,687,780. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market cap of $83.05 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.73 and a beta of 0.94. The company’s 50-day simple moving average is $77.95 and its 200-day simple moving average is $85.38.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 3.57 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared 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 3.11%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 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 accessible through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 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 accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,250 shares of company stock worth $579,375. 1.98% of the stock is owned by company insiders.

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.