Meristem Family Wealth LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,642 shares of the coffee company’s stock after selling 268 shares during the period. Meristem Family Wealth LLC’s holdings in Starbucks were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Enterprise Trust & Investment Co acquired a new stake in Starbucks during the 2nd quarter worth approximately $25,000. Cowen Prime Services LLC acquired a new position in Starbucks in the 1st quarter valued at $26,000. Paragon Capital Management LLC acquired a new position in Starbucks in the 1st quarter valued at $29,000. Northern Oak Wealth Management Inc. raised its holdings in Starbucks by 95.7% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 177 shares in the last quarter. Finally, C J Advisory Inc acquired a new position in Starbucks in the 1st quarter valued at $34,000. 72.32% of the stock is owned by institutional investors and hedge funds.
SBUX stock traded down $1.26 during trading on Friday, reaching $95.23. 3,918,041 shares of the stock were exchanged, compared to its average volume of 7,999,455. The firm’s 50 day moving average is $93.28 and its 200 day moving average is $80.15. Starbucks Co. has a twelve month low of $52.42 and a twelve month high of $99.72. The firm has a market cap of $114.47 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.64 and a beta of 0.55.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the business earned $0.62 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 2.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s dividend payout ratio is currently 59.50%.
In other Starbucks news, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Javier G. Teruel sold 59,838 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.92, for a total value of $5,799,498.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,639 shares of company stock valued at $12,101,183. 3.98% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on SBUX shares. Cowen set a $93.00 price objective on Starbucks and gave the company a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Tuesday, June 18th. Stifel Nicolaus lifted their price objective on Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Wedbush lifted their price target on Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a research note 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’s stock. The stock currently has an average rating of “Buy” and an average price target of $89.53.
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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