Marietta Wealth Management LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Marietta Wealth Management LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,653 shares of the coffee company’s stock after purchasing an additional 7,540 shares during the period. Marietta Wealth Management LLC’s holdings in Starbucks were worth $5,890,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vima LLC purchased a new stake in Starbucks in the fourth quarter worth $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks in the 4th quarter valued at about $27,000. Fairman Group LLC purchased a new position in shares of Starbucks during the fourth quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY raised its stake in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now 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. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction 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 $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,540 shares of company stock valued at $879,291. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.5 %

SBUX traded up $0.50 during midday trading on Friday, hitting $94.81. 16,336,331 shares of the company were exchanged, compared to its average volume of 22,615,598. The firm has a market capitalization of $107.39 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The company’s 50 day simple moving average is $78.23 and its 200 day simple moving average is $83.92. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. On average, equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed 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 dividend yield of 2.40%. Starbucks’s dividend payout ratio is presently 62.81%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBUX shares. Wells Fargo & Company lowered their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. TD Cowen raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $81.00 to $105.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Barclays boosted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.79.

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.