Evolution Wealth Advisors LLC Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Evolution Wealth Advisors LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,585 shares of the coffee company’s stock, valued at approximately $236,000.

A number of other large investors also recently added to or reduced their stakes in SBUX. Axxcess Wealth Management LLC purchased a new stake in shares of Starbucks during the third quarter worth $1,468,000. AXQ Capital LP purchased a new position in Starbucks in the third quarter valued at $803,000. Legacy Advisors LLC increased its holdings in Starbucks by 13.9% in the third quarter. Legacy Advisors LLC now owns 28,465 shares of the coffee company’s stock valued at $2,598,000 after buying an additional 3,467 shares during the last quarter. Lakeshore Financial Planning Inc. purchased a new position in shares of Starbucks during the third quarter worth about $205,000. Finally, Seven Eight Capital LP grew its holdings in shares of Starbucks by 231.7% during the third quarter. Seven Eight Capital LP now owns 92,661 shares of the coffee company’s stock worth $8,457,000 after purchasing an additional 64,724 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on SBUX shares. Wells Fargo & Company dropped their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Robert W. Baird decreased their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Bank of America increased their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Evercore ISI decreased their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.54.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

SBUX stock traded down $0.57 during midday trading on Wednesday, hitting $76.26. The stock had a trading volume of 4,890,701 shares, compared to its average volume of 10,363,124. The firm has a market cap of $86.38 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The company’s 50-day moving average price is $79.22 and its 200 day moving average price is $87.66. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.99%. Starbucks’s payout ratio is 62.81%.

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.