Starbucks Co. (NASDAQ:SBUX) Shares Sold by Central Bank & Trust Co.

by · The Markets Daily

Central Bank & Trust Co. lowered its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,858 shares of the coffee company’s stock after selling 526 shares during the quarter. Central Bank & Trust Co.’s holdings in Starbucks were worth $961,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the first quarter worth about $415,167,000. Marshall Wace LLP raised its stake in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Starbucks in the 2nd quarter worth about $243,910,000. Flossbach Von Storch AG grew its stake in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors purchased a new position in Starbucks during the 1st quarter valued at about $257,721,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $97.03 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock’s 50-day simple moving average is $96.00 and its 200-day simple moving average is $85.53. The firm has a market cap of $109.95 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.17 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. As a group, research analysts predict that Starbucks Co. will post 3.22 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s dividend payout ratio is 68.88%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Read Our Latest Research Report on SBUX

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Profile

(Free Report)

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.

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