Insight Wealth Strategies LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Insight Wealth Strategies LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 52.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 8,240 shares of the coffee company’s stock after buying an additional 2,823 shares during the period. Insight Wealth Strategies LLC’s holdings in Starbucks were worth $900,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SBUX. Sage Mountain Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $258,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Starbucks by 110.0% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 3,272 shares of the coffee company’s stock worth $350,000 after acquiring an additional 1,714 shares in the last quarter. Almanack Investment Partners LLC. boosted its stake in shares of Starbucks by 3.8% during the 4th quarter. Almanack Investment Partners LLC. now owns 7,256 shares of the coffee company’s stock worth $776,000 after acquiring an additional 266 shares in the last quarter. Steel Peak Wealth Management LLC boosted its stake in shares of Starbucks by 3.4% during the 4th quarter. Steel Peak Wealth Management LLC now owns 18,568 shares of the coffee company’s stock worth $1,986,000 after acquiring an additional 619 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its stake in shares of Starbucks by 23.7% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,818 shares of the coffee company’s stock worth $1,692,000 after acquiring an additional 3,035 shares in the last quarter. 68.65% of the stock is currently owned by institutional investors and hedge funds.

SBUX stock opened at $112.69 on Friday. The firm has a market cap of $132.67 billion, a P/E ratio of 133.67, a price-to-earnings-growth ratio of 3.15 and a beta of 0.88. The business’s fifty day moving average price is $113.42. Starbucks Co. has a 52 week low of $71.06 and a 52 week high of $118.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Monday, April 26th. The coffee company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.75 billion. Starbucks had a negative return on equity of 18.94% and a net margin of 4.18%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. On average, analysts expect that Starbucks Co. will post 2.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Thursday, May 13th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. Starbucks’s dividend payout ratio (DPR) is 153.85%.

In related news, CEO Kevin R. Johnson sold 170,000 shares of the company’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the completion of the sale, the chief executive officer now directly owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rachel A. Gonzalez sold 82,894 shares of the company’s stock in a transaction on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the sale, the executive vice president now directly owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 406,184 shares of company stock valued at $44,685,798. 0.36% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on SBUX. BMO Capital Markets upped their target price on Starbucks from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Stephens upped their target price on Starbucks from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 28th. BTIG Research raised Starbucks from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, March 16th. MKM Partners upped their target price on Starbucks from $105.00 to $117.00 in a research note on Thursday, April 22nd. Finally, Barclays upped their target price on Starbucks from $137.00 to $140.00 in a research note on Wednesday, April 28th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $120.80.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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