Executive Wealth Management LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,556 shares of the coffee company’s stock after selling 359 shares during the quarter. Executive Wealth Management LLC’s holdings in Starbucks were worth $1,388,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SBUX. Dimensional Fund Advisors LP grew its position in shares of Starbucks by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,100,583 shares of the coffee company’s stock worth $264,063,000 after buying an additional 20,719 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $806,000. Liberty Wealth Management LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $234,000. Park National Corp OH grew its position in shares of Starbucks by 3.9% during the 1st quarter. Park National Corp OH now owns 6,291 shares of the coffee company’s stock worth $468,000 after buying an additional 237 shares during the period. Finally, Donaldson Capital Management LLC grew its position in shares of Starbucks by 3.6% during the 1st quarter. Donaldson Capital Management LLC now owns 526,044 shares of the coffee company’s stock worth $39,106,000 after buying an additional 18,044 shares during the period. 72.54% of the stock is owned by institutional investors and hedge funds.
NASDAQ SBUX opened at $96.63 on Wednesday. The company has a fifty day simple moving average of $91.15. Starbucks Co. has a 12-month low of $51.79 and a 12-month high of $99.72. The firm has a market cap of $113.28 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.66 and a beta of 0.55.
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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total transaction of $759,144.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,738 shares of company stock worth $11,291,327. Company insiders own 3.98% of the company’s stock.
Several brokerages have recently commented on SBUX. Morgan Stanley raised their price objective on shares of Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Goldman Sachs Group began coverage on shares of Starbucks in a research report on Monday, July 29th. They set a “buy” rating and a $110.00 price objective for the company. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Tuesday, June 18th. Evercore ISI began coverage on shares of Starbucks in a research report on Tuesday, June 11th. They set an “in-line” rating and a $82.00 price objective for the company. Finally, UBS Group raised their price objective on shares of Starbucks from $78.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $89.53.
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.
Recommended Story: What causes a recession?
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.