Cambridge Trust Co. Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Cambridge Trust Co. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,634 shares of the coffee company’s stock after selling 926 shares during the quarter. Cambridge Trust Co.’s holdings in Starbucks were worth $1,693,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Starbucks in the fourth quarter valued at approximately $1,222,931,000. Moneta Group Investment Advisors LLC lifted its position 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 buying an additional 8,486,281 shares in the last quarter. Morgan Stanley lifted its position 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 buying an additional 8,451,599 shares in the last quarter. Flossbach Von Storch AG grew its stake in Starbucks by 8,677.8% in 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 during the period. Finally, Renaissance Technologies LLC purchased a new stake in Starbucks in the 1st quarter worth $190,270,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 7,250 shares of company stock worth $653,183. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBUX shares. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Morgan Stanley decreased their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. TD Cowen reiterated a “hold” rating and set a $100.00 price target on shares of Starbucks in a research report on Thursday, April 11th. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Piper Sandler lowered their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.43.

Starbucks Price Performance

Starbucks stock opened at $87.00 on Friday. The firm has a 50 day simple moving average of $91.14 and a 200-day simple moving average of $94.42. The stock has a market cap of $98.50 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last released 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). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equities analysts expect that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, May 16th. 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.