Starbucks Co. (NASDAQ:SBUX) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,955 shares of the coffee company’s stock after selling 1,739 shares during the period. WASHINGTON TRUST Co’s holdings in Starbucks were worth $2,108,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Quilter Plc acquired a new stake in shares of Starbucks during the 1st quarter valued at $208,530,000. Freedom Wealth Alliance LLC bought a new position in shares of Starbucks during the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. raised its holdings in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of Starbucks during the 2nd quarter valued at $35,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.1 %

SBUX traded up $0.11 during trading on Thursday, hitting $91.61. The company’s stock had a trading volume of 3,177,278 shares, compared to its average volume of 8,524,960. The business’s fifty day simple moving average is $93.05 and its 200 day simple moving average is $95.19. The firm has a market capitalization of $103.72 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.44 and a beta of 0.98. Starbucks Co. has a twelve month low of $89.21 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. Starbucks’s dividend payout ratio is presently 60.96%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TD Cowen reiterated a “market perform” rating and issued a $102.00 target price on shares of Starbucks in a report on Tuesday, March 19th. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. BTIG Research decreased their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Piper Sandler decreased their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Finally, HSBC initiated coverage on shares of Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $110.05.

Insider Buying and Selling

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 4,000 shares of company stock valued at $375,665 in the last three months. 1.98% of the stock is owned by corporate insiders.

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.