Starbucks Co. (NASDAQ:SBUX) Shares Sold by Field & Main Bank

Field & Main Bank lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,620 shares of the coffee company’s stock after selling 555 shares during the period. Field & Main Bank’s holdings in Starbucks were worth $422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the 2nd quarter worth about $25,000. DT Investment Partners LLC boosted its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Starbucks during the third quarter worth approximately $49,000. Friedenthal Financial acquired a new position in shares of Starbucks during the 3rd quarter valued at $50,000. Finally, Capital Performance Advisors LLP purchased a new position in Starbucks in the third quarter valued at about $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.32.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX traded up $4.65 during trading on Wednesday, hitting $105.06. The stock had a trading volume of 5,553,899 shares, compared to its average volume of 7,493,912. The company’s 50-day moving average price is $95.70 and its two-hundred day moving average price is $92.89. The company has a market capitalization of $119.11 billion, a PE ratio of 31.94, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.23.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.32%. Starbucks’s dividend payout ratio is 73.72%.

Starbucks Company 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.