Wade G W & Inc. Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Wade G W & Inc. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,992 shares of the coffee company’s stock after acquiring an additional 3,888 shares during the period. Starbucks makes up 1.4% of Wade G W & Inc.’s portfolio, making the stock its 18th biggest position. Wade G W & Inc.’s holdings in Starbucks were worth $25,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Wealthcare Capital Management LLC purchased a new stake in shares of Starbucks during the first quarter valued at $25,000. Hoover Financial Advisors Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at $26,000. Oxler Private Wealth LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $32,000. Clark Financial Advisors purchased a new stake in shares of Starbucks during the fourth quarter valued at $33,000. Finally, Phoenix Wealth Advisors purchased a new stake in shares of Starbucks during the fourth quarter valued at $39,000. 67.27% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently commented on SBUX. Stifel Nicolaus increased their price objective on Starbucks from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Monday, May 3rd. Jefferies Financial Group increased their target price on Starbucks from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, May 4th. Telsey Advisory Group increased their target price on Starbucks from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, March 23rd. Finally, Gordon Haskett raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $100.00 to $120.00 in a report on Friday, February 5th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $120.80.

Shares of NASDAQ:SBUX traded down $0.89 during trading on Monday, hitting $110.31. 91,253 shares of the company’s stock were exchanged, compared to its average volume of 6,353,441. Starbucks Co. has a 52-week low of $71.06 and a 52-week high of $118.98. The business’s 50-day simple moving average is $113.60 and its 200 day simple moving average is $104.73. The company has a market cap of $129.87 billion, a price-to-earnings ratio of 144.09, a PEG ratio of 2.67 and a beta of 0.82.

Starbucks (NASDAQ:SBUX) last released its earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The firm had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.75 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. Research analysts expect that Starbucks Co. will post 2.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Thursday, May 13th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, May 12th. Starbucks’s dividend payout ratio is presently 153.85%.

In other Starbucks news, EVP Rachel A. Gonzalez sold 82,894 shares of the firm’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the completion of the transaction, the executive vice president now owns 78,905 shares in the company, valued at approximately $8,640,097.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $111.07, for a total value of $18,881,900.00. Following the transaction, the chief executive officer now owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The disclosure for this sale can be found here. Insiders have sold a total of 406,184 shares of company stock valued at $44,685,798 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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