STAR Financial Bank Sells 390 Shares of Starbucks Co. (NASDAQ:SBUX)

STAR Financial Bank reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,451 shares of the coffee company’s stock after selling 390 shares during the period. STAR Financial Bank’s holdings in Starbucks were worth $864,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. lifted its stake in Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares during the last quarter. Norges Bank purchased a new stake in shares of Starbucks during the fourth quarter worth $1,240,652,000. Fisher Asset Management LLC lifted its position in shares of Starbucks by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after acquiring an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after purchasing an additional 166,010 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $878,893 in the last 90 days. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SBUX shares. Wedbush reaffirmed a “neutral” rating and issued a $81.00 price target on shares of Starbucks in a report on Friday, June 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. TD Cowen reissued a “hold” rating and issued a $85.00 target price on shares of Starbucks in a research note on Thursday, June 13th. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group reduced their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.46.

Starbucks Trading Down 0.3 %

NASDAQ:SBUX traded down $0.24 during trading hours on Wednesday, reaching $72.51. The company had a trading volume of 11,113,819 shares, compared to its average volume of 10,363,456. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The firm has a market cap of $82.13 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.63 and a beta of 0.94. The firm’s 50 day moving average price is $77.87 and its 200-day moving average price is $86.83.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

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.