Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lessened by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,230 shares of the coffee company’s stock after selling 550 shares during the period. OLD Second National Bank of Aurora’s holdings in Starbucks were worth $2,614,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SBUX. Norges Bank purchased a new position in Starbucks during the 4th quarter worth approximately $1,222,931,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Starbucks by 115,334.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after acquiring an additional 8,486,281 shares in the last quarter. Morgan Stanley grew its holdings in shares of Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares in the last quarter. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Starbucks during the 1st quarter valued at $190,270,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The shares were 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 owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $653,183. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SBUX shares. HSBC started coverage on shares of Starbucks in a research note on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective for the company. Morgan Stanley cut their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Finally, TD Cowen reissued a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $107.43.

Starbucks Price Performance

SBUX traded up $0.68 during mid-day trading on Thursday, hitting $86.89. The stock had a trading volume of 2,100,117 shares, compared to its average volume of 8,283,975. The stock’s fifty day simple moving average is $91.33 and its 200-day simple moving average is $94.47. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The firm has a market capitalization of $98.38 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $9.60 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.62%. Starbucks’s payout ratio is 60.96%.

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.