Geneos Wealth Management Inc. Has $1.90 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Geneos Wealth Management Inc. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,757 shares of the coffee company’s stock after purchasing an additional 729 shares during the period. Geneos Wealth Management Inc.’s holdings in Starbucks were worth $1,897,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in Starbucks in the first quarter worth approximately $4,164,000. Richardson Financial Services Inc. boosted its holdings in Starbucks by 17.5% in the first quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock worth $248,000 after acquiring an additional 405 shares in the last quarter. Clarity Capital Partners LLC boosted its holdings in Starbucks by 20.1% in the first quarter. Clarity Capital Partners LLC now owns 11,996 shares of the coffee company’s stock worth $1,096,000 after acquiring an additional 2,005 shares in the last quarter. Avidian Wealth Solutions LLC boosted its holdings in Starbucks by 12.2% in the first quarter. Avidian Wealth Solutions LLC now owns 13,238 shares of the coffee company’s stock worth $1,210,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Starbucks in the first quarter valued at approximately $3,254,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus decreased their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. UBS Group decreased their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Finally, TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Starbucks in a research report on Thursday, June 13th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.75.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $73.30 on Friday. The firm has a market capitalization of $83.03 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.58 and a beta of 0.94. The stock has a 50 day moving average price of $77.84 and a 200 day moving average price of $86.74. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. Analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 in the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Profile

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.