Arlington Trust Co LLC Sells 725 Shares of Starbucks Co. (NASDAQ:SBUX)

Arlington Trust Co LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 60.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478 shares of the coffee company’s stock after selling 725 shares during the period. Arlington Trust Co LLC’s holdings in Starbucks were worth $47,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dakota Wealth Management grew its stake in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Starbucks during the 1st quarter worth about $136,000. BNP Paribas bought a new position in Starbucks during the 1st quarter valued at about $9,332,000. Finally, Great Valley Advisor Group Inc. boosted its position in Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.2 %

Shares of SBUX traded up $1.17 during midday trading on Friday, reaching $98.87. The stock had a trading volume of 8,860,191 shares, compared to its average volume of 7,444,304. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market capitalization of $112.04 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. The company’s 50-day moving average is $95.98 and its 200 day moving average is $85.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. Research analysts forecast that Starbucks Co. will post 3.42 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.47%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 68.88%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, October 23rd. Finally, Barclays lowered their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

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.