Larson Financial Group LLC Buys 366 Shares of Starbucks Co. (NASDAQ:SBUX)

Larson Financial Group LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,291 shares of the coffee company’s stock after buying an additional 366 shares during the quarter. Larson Financial Group LLC’s holdings in Starbucks were worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SBUX. Graybill Wealth Management LTD. boosted its stake in shares of Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after acquiring an additional 109 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares during the period. Astoria Portfolio Advisors LLC. raised its stake in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares during the period. Bedel Financial Consulting Inc. lifted its position in shares of Starbucks by 2.1% during the 4th quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after buying an additional 132 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after acquiring an additional 133 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SBUX shares. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. TD Cowen lifted their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays increased their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, BMO Capital Markets cut their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $99.42.

Starbucks Stock Down 0.9 %

NASDAQ SBUX opened at $92.33 on Thursday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a fifty day moving average of $81.90 and a two-hundred day moving average of $83.90. The firm has a market capitalization of $104.63 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $9.25 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insiders Place Their Bets

In other 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 value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is owned by corporate insiders.

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.