Wealth Enhancement Advisory Services LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 555,484 shares of the coffee company’s stock after purchasing an additional 24,164 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Starbucks were worth $43,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Orca Investment Management LLC boosted its position in Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares in the last quarter. Cox Capital Mgt LLC boosted its holdings in Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares in the last quarter. Summa Corp. acquired a new stake in Starbucks during the fourth quarter valued at $384,000. Brevan Howard Capital Management LP purchased a new position in shares of Starbucks in the 4th quarter valued at about $2,781,000. Finally, FFT Wealth Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $209,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $3.89 during mid-day trading on Wednesday, reaching $92.01. 18,598,240 shares of the company’s stock were exchanged, compared to its average volume of 11,803,163. The company’s 50-day moving average is $77.44 and its 200-day moving average is $83.84. The firm has a market capitalization of $104.27 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.80 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock valued at $579,375 over the last quarter. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $105.00 in a research note on Tuesday. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, May 3rd. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.04.

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.