Evolution Wealth Advisors LLC Buys New Shares in Starbucks Co. (NASDAQ:SBUX)

Evolution Wealth Advisors LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the 1st quarter, Holdings Channel.com reports. The fund purchased 2,585 shares of the coffee company’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Fairman Group LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $30,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.7 %

Shares of SBUX traded down $0.57 during midday trading on Wednesday, reaching $76.26. 4,890,701 shares of the stock were exchanged, compared to its average volume of 10,363,124. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The company has a market cap of $86.38 billion, a P/E ratio of 21.06, a PEG ratio of 1.70 and a beta of 0.94. The stock’s 50 day simple moving average is $79.22 and its 200 day simple moving average is $87.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the business posted $0.74 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Piper Sandler reduced their price target on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.54.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated 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 directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,750 shares of company stock worth $878,893. 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.