First Financial Bankshares Inc Sells 6,097 Shares of Starbucks Co. (NASDAQ:SBUX)

First Financial Bankshares Inc lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 351,627 shares of the coffee company’s stock after selling 6,097 shares during the quarter. First Financial Bankshares Inc’s holdings in Starbucks were worth $34,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks during the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.2 %

Shares of SBUX stock opened at $97.31 on Monday. The stock has a market capitalization of $110.22 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a fifty day simple moving average of $95.48 and a two-hundred day simple moving average of $85.03.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.51%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 67.22%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBUX. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. BTIG Research increased their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays lifted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Citigroup cut their price target on Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.48.

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.