Community Bank N.A. Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Community Bank N.A. boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,741 shares of the coffee company’s stock after buying an additional 2,451 shares during the quarter. Community Bank N.A.’s holdings in Starbucks were worth $2,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during 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 acquired a new position in shares of Starbucks in the 2nd quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.9 %

Shares of NASDAQ SBUX opened at $102.46 on Monday. The firm has a 50-day moving average price of $97.63 and a 200 day moving average price of $88.10. The stock has a market capitalization of $116.17 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 73.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada initiated coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price for the company. Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

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.