Insight Wealth Strategies LLC Has $979,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Insight Wealth Strategies LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 22.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,681 shares of the coffee company’s stock after buying an additional 2,178 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Starbucks were worth $979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Starbucks by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,100,583 shares of the coffee company’s stock valued at $264,063,000 after purchasing an additional 20,719 shares during the last quarter. Gradient Investments LLC grew its position in shares of Starbucks by 95.6% in the first quarter. Gradient Investments LLC now owns 5,855 shares of the coffee company’s stock valued at $435,000 after purchasing an additional 2,862 shares during the last quarter. Wendell David Associates Inc. grew its position in shares of Starbucks by 7.8% in the first quarter. Wendell David Associates Inc. now owns 48,670 shares of the coffee company’s stock valued at $3,618,000 after purchasing an additional 3,525 shares during the last quarter. Ingalls & Snyder LLC grew its position in shares of Starbucks by 35.6% in the first quarter. Ingalls & Snyder LLC now owns 3,806 shares of the coffee company’s stock valued at $283,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Calamos Advisors LLC grew its position in shares of Starbucks by 0.5% in the first quarter. Calamos Advisors LLC now owns 385,165 shares of the coffee company’s stock valued at $28,633,000 after purchasing an additional 1,976 shares during the last quarter. 72.32% of the stock is owned by institutional investors.

In other news, Director Javier G. Teruel sold 59,838 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,639 shares of company stock worth $12,101,183. 3.98% of the stock is owned by company insiders.

Shares of SBUX traded down $1.51 during mid-day trading on Friday, reaching $94.98. The company had a trading volume of 3,495,143 shares, compared to its average volume of 7,999,455. The stock has a market cap of $114.47 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 2.64 and a beta of 0.55. The firm has a fifty day simple moving average of $93.28 and a 200-day simple moving average of $80.15. Starbucks Co. has a fifty-two week low of $52.42 and a fifty-two week high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the Zacks’ 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%. Starbucks’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.52%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Starbucks from an “overweight” rating to a “neutral” rating in a research report on Monday, July 29th. BidaskClub upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Barclays raised their target price on shares of Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wedbush raised their target price on shares of Starbucks from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Morgan Stanley raised their target price on shares of Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $89.53.

About Starbucks

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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