Starbucks Co. (NASDAQ:SBUX) Position Reduced by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,433 shares of the coffee company’s stock after selling 487 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Starbucks were worth $2,412,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Regal Investment Advisors LLC increased its holdings in shares of Starbucks by 19.8% in the 2nd quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock worth $770,000 after acquiring an additional 1,634 shares during the period. Truist Financial Corp increased its stake in Starbucks by 21.8% during the 2nd quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock valued at $62,816,000 after buying an additional 144,516 shares during the period. 3Chopt Investment Partners LLC acquired a new position in Starbucks during the 2nd quarter valued at about $316,000. Farmers National Bank increased its stake in Starbucks by 4.7% during the 2nd quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock valued at $4,763,000 after buying an additional 2,737 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter valued at about $25,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.52.

Insider Activity 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 shares were sold at an average price of $99.54, for a total transaction 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 $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 8.1 %

Shares of Starbucks stock opened at $108.58 on Thursday. The firm has a fifty day simple moving average of $95.70 and a 200-day simple moving average of $92.89. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $110.08. The stock has a market capitalization of $123.11 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

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.