First National Trust Co Acquires 561 Shares of Starbucks Co. (NASDAQ:SBUX)

First National Trust Co increased its stake in Starbucks Co. (NASDAQ:SBUX) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,356 shares of the coffee company’s stock after buying an additional 561 shares during the period. First National Trust Co’s holdings in Starbucks were worth $522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the first quarter valued at approximately $415,167,000. Marshall Wace LLP grew its position 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 in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Starbucks during the second quarter valued at $243,910,000. Capital World Investors bought a new stake in shares of Starbucks in the first quarter valued at about $257,721,000. Finally, Van ECK Associates Corp lifted its stake in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $99.80 on Thursday. The company has a fifty day moving average of $96.30 and a 200 day moving average of $85.93. The company has a market capitalization of $113.09 billion, a PE ratio of 30.15, a P/E/G ratio of 2.86 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. Research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company 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. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is 68.88%.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent research reports. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Stifel Nicolaus boosted their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.31.

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.