2,546 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Perigon Wealth Management LLC
Perigon Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,546 shares of the coffee company’s stock, valued at approximately $213,000.
Several other large investors also recently modified their holdings of SBUX. Cowen Prime Services LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $26,000. Paragon Capital Management LLC purchased a new stake in Starbucks during the first quarter valued at about $29,000. Northern Oak Wealth Management Inc. lifted its holdings in Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 177 shares during the last quarter. C J Advisory Inc purchased a new stake in Starbucks during the first quarter valued at about $34,000. Finally, Atlas Capital Advisors LLC lifted its holdings in Starbucks by 53.3% during the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after purchasing an additional 145 shares during the last quarter. 72.32% of the stock is currently owned by institutional investors.
In related news, CAO Jill Walker sold 6,492 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $98.32, for a total transaction of $2,299,704.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,801 shares of company stock worth $6,301,684. 3.98% of the stock is owned by company insiders.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. Starbucks’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is 59.50%.
Several equities research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. KeyCorp upped their price objective on shares of Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Citigroup assumed coverage on shares of Starbucks in a report on Wednesday, June 26th. They set a “buy” rating and a $83.65 price objective on the stock. Robert W. Baird downgraded shares of Starbucks from an “outperform” rating to a “neutral” rating in a report on Monday, July 29th. Finally, Stephens upped their price objective on shares of Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Starbucks has a consensus rating of “Buy” and a consensus price target of $89.53.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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