Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 51.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,186 shares of the coffee company’s stock after selling 19,521 shares during the quarter. Bath Savings Trust Co’s holdings in Starbucks were worth $1,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new stake in Starbucks in the second quarter valued at about $4,633,000. Acadian Asset Management LLC grew its holdings in Starbucks by 377.3% during the second quarter. Acadian Asset Management LLC now owns 31,982 shares of the coffee company’s stock worth $2,488,000 after acquiring an additional 25,281 shares during the period. Ellis Investment Partners LLC raised its position in Starbucks by 7.6% in the second quarter. Ellis Investment Partners LLC now owns 3,402 shares of the coffee company’s stock worth $265,000 after acquiring an additional 240 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Starbucks by 17.6% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 57,366 shares of the coffee company’s stock worth $4,466,000 after purchasing an additional 8,605 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. increased its holdings in shares of Starbucks by 1.8% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock valued at $583,000 after purchasing an additional 135 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on 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 represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. BMO Capital Markets lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Citigroup raised their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada initiated coverage on shares of Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.90 during trading hours on Tuesday, hitting $92.23. The stock had a trading volume of 2,943,493 shares, compared to its average volume of 6,313,100. The company has a market capitalization of $104.57 billion, a P/E ratio of 27.86, a P/E/G ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm’s 50-day moving average price is $96.55 and its two-hundred day moving average price is $90.77.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. As a group, analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.65%. Starbucks’s dividend payout ratio is 73.72%.

Starbucks 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.