FARMERS & MERCHANTS TRUST Co OF LONG BEACH Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,157 shares of the coffee company’s stock after buying an additional 150 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Starbucks were worth $1,109,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the period. Geode Capital Management LLC lifted its holdings in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after buying an additional 333,004 shares during the period. FMR LLC grew its position in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after acquiring an additional 327,734 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.7 %

Shares of Starbucks stock opened at $95.13 on Friday. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. The company’s 50 day moving average is $95.89 and its 200 day moving average is $91.38. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during 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 business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. Sell-side analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent analyst reports. Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays decreased their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

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.