AAFMAA Wealth Management & Trust LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

AAFMAA Wealth Management & Trust LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 27.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,571 shares of the coffee company’s stock after purchasing an additional 3,772 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Starbucks were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Milestone Asset Management LLC lifted its stake in Starbucks by 31.5% during the 2nd quarter. Milestone Asset Management LLC now owns 3,613 shares of the coffee company’s stock worth $281,000 after acquiring an additional 865 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Starbucks in the 2nd quarter valued at about $222,000. Donald L. Hagan LLC boosted its stake in shares of Starbucks by 19.1% in the 2nd quarter. Donald L. Hagan LLC now owns 13,180 shares of the coffee company’s stock valued at $1,026,000 after buying an additional 2,110 shares during the period. Raymond James & Associates boosted its stake in shares of Starbucks by 8.4% in the 2nd quarter. Raymond James & Associates now owns 1,610,740 shares of the coffee company’s stock valued at $125,396,000 after buying an additional 125,273 shares during the period. Finally, Signet Investment Advisory Group Inc. boosted its stake in shares of Starbucks by 12.3% in the 2nd quarter. Signet Investment Advisory Group Inc. now owns 22,847 shares of the coffee company’s stock valued at $1,779,000 after buying an additional 2,495 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX traded down $2.51 during trading hours on Monday, hitting $92.30. 14,434,127 shares of the company’s stock were exchanged, compared to its average volume of 12,077,609. The firm has a market capitalization of $104.55 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The business’s 50 day moving average is $78.44 and its 200-day moving average is $83.85. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid 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 dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,790 shares of company stock worth $1,184,889. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBUX shares. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. HSBC cut their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, DZ Bank lowered Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.79.

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.