Wealth Enhancement Advisory Services LLC Buys 24,164 Shares of Starbucks Co. (NASDAQ:SBUX)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 555,484 shares of the coffee company’s stock after buying an additional 24,164 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Starbucks were worth $43,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vima LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $27,000. Fairman Group LLC acquired a new position in shares of Starbucks in the 4th quarter valued at approximately $30,000. Finally, Cypress Capital Management LLC WY increased its stake in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BTIG Research cut their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets lowered their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research note on Tuesday. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased 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. Twelve investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.04.

Starbucks Stock Performance

NASDAQ:SBUX traded down $3.89 during mid-day trading on Wednesday, hitting $92.01. The stock had a trading volume of 18,598,240 shares, compared to its average volume of 11,803,163. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market cap of $104.27 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.80 and a beta of 0.94. The company’s 50 day simple moving average is $77.44 and its 200 day simple moving average is $83.84.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were 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 directly 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 at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’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 completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,250 shares of company stock worth $579,375. 1.98% of the stock is owned by insiders.

Starbucks 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.