First Citizens Bank & Trust Co. Purchases 511 Shares of Starbucks Co. (NASDAQ:SBUX)

First Citizens Bank & Trust Co. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,617 shares of the coffee company’s stock after acquiring an additional 511 shares during the period. First Citizens Bank & Trust Co.’s holdings in Starbucks were worth $1,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBUX. Annandale Capital LLC grew its position in shares of Starbucks by 60.9% during the 2nd quarter. Annandale Capital LLC now owns 9,775 shares of the coffee company’s stock valued at $761,000 after acquiring an additional 3,700 shares during the period. Clearline Capital LP bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $1,635,000. Magnolia Capital Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $1,383,000. Nemes Rush Group LLC grew its position in shares of Starbucks by 6.4% during the 2nd quarter. Nemes Rush Group LLC now owns 22,408 shares of the coffee company’s stock valued at $1,744,000 after acquiring an additional 1,345 shares during the period. Finally, Silver Lake Advisory LLC bought a new position in Starbucks in the 2nd quarter worth approximately $232,000. 72.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SBUX shares. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Citigroup raised their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Stock Up 0.8 %

Shares of Starbucks stock opened at $98.81 on Monday. The firm has a market cap of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The company’s fifty day simple moving average is $95.66 and its two-hundred day simple moving average is $92.39.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 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.