Equitable Trust Co. Sells 107 Shares of Starbucks Co. (NASDAQ:SBUX)

Equitable Trust Co. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,572 shares of the coffee company’s stock after selling 107 shares during the quarter. Equitable Trust Co.’s holdings in Starbucks were worth $3,273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC boosted its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wedbush cut their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.55 on Friday. The stock has a market cap of $110.54 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.78 and a beta of 0.97. The firm’s 50-day moving average is $96.07 and its 200 day moving average is $85.81. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 quarter in the previous year, the business posted $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. Starbucks’s payout ratio is 68.88%.

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.