Starbucks Co. (NASDAQ:SBUX) Shares Purchased by GYL Financial Synergies LLC

GYL Financial Synergies LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,473 shares of the coffee company’s stock after purchasing an additional 1,441 shares during the quarter. GYL Financial Synergies LLC’s holdings in Starbucks were worth $660,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Atlas Brown Inc. boosted its position in shares of Starbucks by 31.3% in the 2nd quarter. Atlas Brown Inc. now owns 4,643 shares of the coffee company’s stock valued at $361,000 after purchasing an additional 1,106 shares during the period. PSI Advisors LLC boosted its position in shares of Starbucks by 45.8% in the 2nd quarter. PSI Advisors LLC now owns 3,079 shares of the coffee company’s stock valued at $240,000 after purchasing an additional 967 shares during the period. H&H Retirement Design & Management INC boosted its position in shares of Starbucks by 42.7% in the 2nd quarter. H&H Retirement Design & Management INC now owns 7,097 shares of the coffee company’s stock valued at $543,000 after purchasing an additional 2,124 shares during the period. Richard W. Paul & Associates LLC boosted its position in shares of Starbucks by 24.2% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 10,113 shares of the coffee company’s stock valued at $787,000 after purchasing an additional 1,969 shares during the period. Finally, Griffin Asset Management Inc. boosted its position in shares of Starbucks by 14.1% in the 2nd quarter. Griffin Asset Management Inc. now owns 119,955 shares of the coffee company’s stock valued at $9,339,000 after purchasing an additional 14,809 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the subject of several analyst reports. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Bank of America upped their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Stock Performance

SBUX stock traded up $0.75 during midday trading on Friday, hitting $93.18. 758,743 shares of the stock were exchanged, compared to its average volume of 11,959,708. The stock’s 50-day moving average price is $79.22 and its 200-day moving average price is $83.97. The stock has a market cap of $105.54 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 company 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%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 earnings per share. Research analysts anticipate that Starbucks Co. will post 3.55 EPS 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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on 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 sale, 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 SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 completion of the sale, 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 90 days, insiders sold 9,790 shares of company stock valued at $865,514. Corporate insiders own 1.98% of the company’s stock.

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.