StrongBox Wealth LLC Buys New Holdings in Starbucks Co. (NASDAQ:SBUX)

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StrongBox Wealth LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,725 shares of the coffee company’s stock, valued at approximately $201,000.

A number of other large investors also recently added to or reduced their stakes in the business. Endurance Wealth Management Inc. increased its holdings in Starbucks by 1,352.7% in the second quarter. Endurance Wealth Management Inc. now owns 32,817 shares of the coffee company’s stock valued at $2,415,000 after buying an additional 30,558 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in Starbucks by 2.0% in the fourth quarter. Sunbelt Securities Inc. now owns 19,699 shares of the coffee company’s stock valued at $1,704,000 after buying an additional 395 shares during the last quarter. Altfest L J & Co. Inc. boosted its stake in Starbucks by 63.4% in the first quarter. Altfest L J & Co. Inc. now owns 6,904 shares of the coffee company’s stock valued at $454,000 after acquiring an additional 2,680 shares during the period. Signature Wealth Management Group boosted its stake in Starbucks by 8.8% in the second quarter. Signature Wealth Management Group now owns 9,688 shares of the coffee company’s stock valued at $713,000 after acquiring an additional 787 shares during the period. Finally, Hotaling Investment Management LLC acquired a new position in Starbucks in the first quarter valued at approximately $227,000. 68.51% of the stock is currently owned by institutional investors.

SBUX traded down $0.11 during trading on Friday, reaching $76.53. The stock had a trading volume of 7,424,977 shares, compared to its average volume of 8,243,539. The firm has a market capitalization of $89.59 billion, a price-to-earnings ratio of 68.95, a price-to-earnings-growth ratio of 5.87 and a beta of 0.79. Starbucks Co. has a 1-year low of $50.02 and a 1-year high of $98.14. The stock has a 50 day moving average of $74.75 and a two-hundred day moving average of $77.29.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.15. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.14 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The firm’s revenue for the quarter was down 38.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 0.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.41 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.64 annualized dividend and a dividend yield of 2.14%. Starbucks’s dividend payout ratio is currently 57.95%.

In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.09, for a total value of $315,030.68. Following the transaction, the director now owns 22,752 shares of the company’s stock, valued at $1,685,695.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $82.64, for a total value of $165,280.00. The disclosure for this sale can be found here. Insiders sold 10,504 shares of company stock worth $810,521 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

A number of brokerages have commented on SBUX. Barclays lifted their target price on Starbucks from $88.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday. KeyCorp lifted their target price on Starbucks from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Bank of America lifted their target price on Starbucks from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday. MKM Partners lifted their target price on Starbucks from $74.00 to $79.00 in a research note on Wednesday. Finally, Wedbush lifted their target price on Starbucks from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $84.04.

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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