Benedict Financial Advisors Inc. Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Benedict Financial Advisors Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,132 shares of the coffee company’s stock after buying an additional 4,330 shares during the period. Benedict Financial Advisors Inc.’s holdings in Starbucks were worth $3,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. 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 company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. In the last three months, insiders sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX traded down $0.29 on Friday, reaching $94.57. 7,117,159 shares of the company traded hands, compared to its average volume of 12,037,227. The stock’s 50 day moving average price is $81.06 and its 200-day moving average price is $83.98. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a market cap of $107.12 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 2.28 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. The Goldman Sachs Group initiated coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, TD Cowen raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.00 to $105.00 in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.21.

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.