Trust Point Inc. Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Trust Point Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 14.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,185 shares of the coffee company’s stock after buying an additional 1,406 shares during the quarter. Trust Point Inc.’s holdings in Starbucks were worth $1,021,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Financial Life Planners bought a new stake in shares of Starbucks during the 4th quarter worth approximately $25,000. DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter worth $49,000. Friedenthal Financial bought a new stake in shares of Starbucks during the third quarter worth $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the third quarter valued at $71,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $110.60 on Wednesday. Starbucks Co. has a one year low of $71.55 and a one year high of $111.07. The stock has a market cap of $125.63 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The stock has a 50-day moving average of $96.31 and a two-hundred day moving average of $93.85.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the company posted $0.90 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 3 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 issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.33.

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.