Masso Torrence Wealth Management Inc. Buys 185 Shares of Starbucks Co. (NASDAQ:SBUX)

Masso Torrence Wealth Management Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.7% in the second quarter, Holdings Channel reports. The fund owned 2,592 shares of the coffee company’s stock after purchasing an additional 185 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Starbucks were worth $202,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at $26,000. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter worth $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Finally, Cypress Capital Management LLC WY grew its holdings in shares of Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.71 during trading on Tuesday, reaching $93.01. The stock had a trading volume of 11,531,841 shares, compared to its average volume of 12,074,294. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm’s fifty day moving average is $78.71 and its 200 day moving average is $83.85. The stock has a market cap of $105.35 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 2.25 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.45%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

In related 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 value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,540 shares of company stock valued at $1,165,514. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Barclays raised their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Bank of America raised their price objective on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. dropped their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday, May 3rd. Twelve investment 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 company. According to MarketBeat, the company presently has a consensus 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.