OLD National Bancorp IN Sells 1,445 Shares of Starbucks Co. (NASDAQ:SBUX)

OLD National Bancorp IN trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 13,899 shares of the coffee company’s stock after selling 1,445 shares during the quarter. OLD National Bancorp IN’s holdings in Starbucks were worth $1,268,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC increased its stake in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new position in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial acquired a new position in Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Starbucks in the 3rd quarter valued at $71,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Down 1.2 %

Shares of Starbucks stock opened at $107.68 on Friday. The company has a market cap of $122.31 billion, a P/E ratio of 34.74, a PEG ratio of 3.47 and a beta of 0.99. The business has a 50-day moving average price of $96.08 and a two-hundred day moving average price of $93.11. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $110.34.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 negative return on equity of 44.30% and a net margin of 9.73%. During the same period in the prior year, the company earned $0.90 earnings per share. Equities research analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 2.27%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Starbucks 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.