Field & Main Bank Sells 3,290 Shares of Starbucks Co. (NASDAQ:SBUX)

Field & Main Bank reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 38.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,175 shares of the coffee company’s stock after selling 3,290 shares during the quarter. Field & Main Bank’s holdings in Starbucks were worth $504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acorn Financial Advisory Services Inc. ADV bought a new stake in Starbucks during the 3rd quarter worth about $211,000. Cypress Point Wealth Management LLC bought a new stake in Starbucks during the 3rd quarter worth about $653,000. Tompkins Financial Corp raised its holdings in Starbucks by 78.0% during the 3rd quarter. Tompkins Financial Corp now owns 1,045 shares of the coffee company’s stock worth $102,000 after purchasing an additional 458 shares during the last quarter. TCTC Holdings LLC raised its holdings in Starbucks by 3.2% during the 3rd quarter. TCTC Holdings LLC now owns 11,276 shares of the coffee company’s stock worth $1,099,000 after purchasing an additional 350 shares during the last quarter. Finally, 5th Street Advisors LLC bought a new stake in shares of Starbucks in the 3rd quarter valued at about $211,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 1.5 %

NASDAQ SBUX opened at $97.55 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a 50 day moving average of $96.07 and a 200-day moving average of $85.81. The company has a market cap of $110.54 billion, a PE ratio of 29.47, a PEG ratio of 2.78 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 68.88%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, October 23rd. Wedbush lowered their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.32.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

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.