First Financial Corp IN Sells 1,673 Shares of Starbucks Co. (NASDAQ:SBUX)

First Financial Corp IN lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,628 shares of the coffee company’s stock after selling 1,673 shares during the quarter. First Financial Corp IN’s holdings in Starbucks were worth $880,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. Norges Bank acquired a new stake in Starbucks in the 4th quarter valued at about $1,240,652,000. Fisher Asset Management LLC raised its stake in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after acquiring an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Starbucks by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Starbucks by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after purchasing an additional 166,010 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.3 %

NASDAQ SBUX traded down $0.25 during trading hours on Wednesday, hitting $79.03. 3,898,599 shares of the company’s stock traded hands, compared to its average volume of 10,371,302. The business’s fifty day moving average price is $80.16 and its two-hundred day moving average price is $88.36. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The firm has a market capitalization of $89.52 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Friday, May 3rd. Morgan Stanley decreased their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. HSBC cut their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Citigroup reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Evercore ISI reduced their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.00.

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.