Huntington National Bank Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Huntington National Bank lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 85,789 shares of the coffee company’s stock after selling 3,520 shares during the quarter. Huntington National Bank’s holdings in Starbucks were worth $7,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter worth about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Collier Financial purchased a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks during the fourth quarter worth approximately $27,000. Finally, Marshall Investment Management LLC purchased a new position in Starbucks during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Barclays boosted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Price Performance

SBUX opened at $99.41 on Thursday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a market capitalization of $112.92 billion, a PE ratio of 32.07, a P/E/G ratio of 3.59 and a beta of 0.99. The firm’s fifty day moving average price is $105.84 and its 200 day moving average price is $99.54.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm posted $0.90 EPS. On average, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.45%. Starbucks’s payout ratio is 78.71%.

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.