UMB Bank n.a. Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

UMB Bank n.a. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,459 shares of the coffee company’s stock after selling 12,452 shares during the period. UMB Bank n.a.’s holdings in Starbucks were worth $4,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the second quarter valued at $25,000. DT Investment Partners LLC grew 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 valued at $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks in the third quarter worth about $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks in the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP bought a new position in Starbucks during the third quarter valued at approximately $71,000. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.7 %

Shares of SBUX stock opened at $95.13 on Tuesday. The stock has a market capitalization of $107.86 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The stock has a fifty day simple moving average of $95.84 and a two-hundred day simple moving average of $91.71.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts predict that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. Starbucks’s dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average 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.