Keystone Wealth Services LLC Acquires 219 Shares of Starbucks Co. (NASDAQ:SBUX)

Keystone Wealth Services LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,021 shares of the coffee company’s stock after buying an additional 219 shares during the period. Keystone Wealth Services LLC’s holdings in Starbucks were worth $780,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. First National Trust Co boosted its stake in Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares in the last quarter. Graybill Wealth Management LTD. raised its position in Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after buying an additional 109 shares during the last quarter. Versant Capital Management Inc raised its position in Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares during the last quarter. Valmark Advisers Inc. raised its position in Starbucks by 1.1% during the 4th quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock worth $1,042,000 after buying an additional 123 shares during the last quarter. Finally, McAdam LLC raised its position in Starbucks by 3.3% during the 4th quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock worth $367,000 after buying an additional 124 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 0.9 %

SBUX traded down $0.66 on Friday, hitting $75.09. The company had a trading volume of 4,683,590 shares, compared to its average volume of 14,243,939. The firm has a market cap of $85.09 billion, a P/E ratio of 20.69, a PEG ratio of 1.80 and a beta of 0.94. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company’s fifty day moving average price is $77.28 and its 200 day moving average price is $83.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. On average, analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.04%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent research reports. Jefferies Financial Group cut their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Citigroup cut their target price on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Friday, May 3rd. Finally, Barclays cut their price target on shares of Starbucks from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.88.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock worth $579,375 over the last three months. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.