Catalytic Wealth RIA LLC Purchases 323 Shares of Starbucks Co. (NASDAQ:SBUX)

Catalytic Wealth RIA LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,710 shares of the coffee company’s stock after purchasing an additional 323 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Starbucks were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobi Capital Management LLC raised its holdings in Starbucks by 2.5% in the 1st quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company’s stock valued at $1,475,000 after acquiring an additional 401 shares during the period. Allstate Corp raised its holdings in Starbucks by 43.0% in the 1st quarter. Allstate Corp now owns 3,468 shares of the coffee company’s stock valued at $317,000 after acquiring an additional 1,042 shares during the period. Ontario Teachers Pension Plan Board bought a new position in Starbucks in the 1st quarter valued at about $415,167,000. Vanguard Group Inc. raised its holdings in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares during the period. Finally, Spirepoint Private Client LLC bought a new position in shares of Starbucks during the first quarter worth approximately $371,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of Starbucks stock traded down $2.72 during trading on Monday, hitting $76.55. The company’s stock had a trading volume of 17,747,647 shares, compared to its average volume of 10,637,453. The stock has a market cap of $86.71 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a 50-day moving average price of $77.99 and a two-hundred day moving average price of $85.78.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, equities analysts predict that Starbucks Co. will post 3.57 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors 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 annualized dividend and a yield of 2.98%. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock worth $579,375 over the last quarter. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. HSBC lowered their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Citigroup lowered their target price on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Bank of America lifted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $91.71.

About Starbucks

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.