Graybill Wealth Management LTD. Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Graybill Wealth Management LTD. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,621 shares of the coffee company’s stock after buying an additional 1,533 shares during the quarter. Graybill Wealth Management LTD.’s holdings in Starbucks were worth $3,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vima LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $27,000. Riggs Asset Managment Co. Inc. grew its holdings in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new position in Starbucks in the 4th quarter worth $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.0 %

NASDAQ SBUX traded up $0.01 on Thursday, hitting $79.16. 5,919,931 shares of the company traded hands, compared to its average volume of 10,390,474. The business’s 50 day moving average price is $80.02 and its 200-day moving average price is $88.29. The company has a market capitalization of $89.66 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. UBS Group decreased their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. BTIG Research dropped their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus lowered their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and lowered their price objective for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Finally, TD Cowen reissued a “hold” rating and set a $85.00 price objective on shares of Starbucks in a research report on Thursday, June 13th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,750 shares of company stock valued at $878,893. Insiders own 1.98% of the company’s stock.

Starbucks Company Profile

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