Private Trust Co. NA Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Private Trust Co. NA raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,607 shares of the coffee company’s stock after buying an additional 1,158 shares during the quarter. Private Trust Co. NA’s holdings in Starbucks were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks in the second quarter worth about $31,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $101.84 on Tuesday. The firm’s fifty day moving average is $97.22 and its 200 day moving average is $87.38. The firm has a market cap of $115.47 billion, a PE ratio of 30.77, a P/E/G ratio of 3.00 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Research analysts predict that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % 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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. BTIG Research lifted 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. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.81.

About Starbucks

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.