Envestnet Asset Management Inc. Has $152.12 Million Stake in Starbucks Co. (NASDAQ:SBUX)

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Envestnet Asset Management Inc. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,814,637 shares of the coffee company’s stock after acquiring an additional 112,632 shares during the period. Envestnet Asset Management Inc. owned 0.15% of Starbucks worth $152,121,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. First American Trust FSB acquired a new stake in Starbucks in the 2nd quarter valued at approximately $212,000. Loudon Investment Management LLC grew its holdings in Starbucks by 0.4% in the 1st quarter. Loudon Investment Management LLC now owns 44,838 shares of the coffee company’s stock valued at $3,333,000 after buying an additional 175 shares during the last quarter. Hamel Associates Inc. grew its holdings in Starbucks by 2.6% in the 1st quarter. Hamel Associates Inc. now owns 53,480 shares of the coffee company’s stock valued at $3,976,000 after buying an additional 1,375 shares during the last quarter. Centric Wealth Management grew its holdings in Starbucks by 3.2% in the 2nd quarter. Centric Wealth Management now owns 9,873 shares of the coffee company’s stock valued at $828,000 after buying an additional 305 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Starbucks by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 209,160 shares of the coffee company’s stock valued at $17,534,000 after buying an additional 1,046 shares during the last quarter. 72.54% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have issued reports on SBUX shares. Cowen set a $93.00 target price on Starbucks and gave the company a “hold” rating in a report on Friday, July 26th. UBS Group raised their target price on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lowered Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. Barclays lifted their price objective on Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Wedbush lifted their price objective on Starbucks from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $89.53.

In other Starbucks news, CAO Jill Walker sold 6,492 shares of Starbucks stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,801 shares of company stock valued at $6,301,684. Corporate insiders own 3.98% of the company’s stock.

Shares of Starbucks stock traded up $0.41 during midday trading on Thursday, hitting $95.33. 462,464 shares of the company were exchanged, compared to its average volume of 7,953,828. The company has a market capitalization of $113.61 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 2.62 and a beta of 0.55. Starbucks Co. has a 52 week low of $52.30 and a 52 week high of $99.72. The firm has a 50 day simple moving average of $91.38.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 2.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be given a $0.36 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.51%. Starbucks’s payout ratio is 59.50%.

Starbucks 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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