Spectrum Management Group Inc. Purchases 3,439 Shares of Starbucks Co. (NASDAQ:SBUX)

Spectrum Management Group Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,156 shares of the coffee company’s stock after purchasing an additional 3,439 shares during the period. Starbucks accounts for approximately 1.2% of Spectrum Management Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Spectrum Management Group Inc.’s holdings in Starbucks were worth $4,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northern Oak Wealth Management Inc. raised its position in shares of Starbucks by 95.7% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after acquiring an additional 177 shares in the last quarter. Paragon Capital Management LLC purchased a new position in Starbucks in the first quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its stake in Starbucks by 53.3% in the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after acquiring an additional 145 shares during the last quarter. C J Advisory Inc acquired a new stake in Starbucks during the first quarter worth approximately $34,000. Finally, Capital Advisors Ltd. LLC raised its holdings in Starbucks by 111.0% during the second quarter. Capital Advisors Ltd. LLC now owns 633 shares of the coffee company’s stock worth $53,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 72.54% of the company’s stock.

Shares of NASDAQ SBUX traded up $0.82 during trading on Friday, hitting $96.35. 2,927,152 shares of the company were exchanged, compared to its average volume of 8,121,147. The company has a market cap of $115.67 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.67 and a beta of 0.55. Starbucks Co. has a 1 year low of $52.42 and a 1 year high of $99.72. The firm’s fifty day moving average price is $91.61 and its 200 day moving average price is $79.38.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 2.82 earnings per share for the current 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 issued a $0.36 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.49%. Starbucks’s dividend payout ratio is presently 59.50%.

A number of analysts have weighed in on the stock. KeyCorp raised their price objective on shares of Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Wedbush lifted their target price on shares of Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, July 26th. BMO Capital Markets lifted their target price on shares of Starbucks to $84.00 and gave the company a “market perform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut shares of Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $89.53.

In other news, CAO Jill Walker sold 6,492 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total transaction of $621,284.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin R. Johnson sold 23,390 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Insiders sold 69,801 shares of company stock valued at $6,301,684 in the last quarter. 3.98% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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