Legacy Trust Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Legacy Trust lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,226 shares of the coffee company’s stock after selling 558 shares during the period. Legacy Trust’s holdings in Starbucks were worth $1,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Regal Investment Advisors LLC lifted its stake in shares of Starbucks by 19.8% during the 2nd quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock worth $770,000 after purchasing an additional 1,634 shares during the last quarter. Truist Financial Corp raised its holdings in Starbucks by 21.8% in the second quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock worth $62,816,000 after purchasing an additional 144,516 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Starbucks during the second quarter valued at about $316,000. Farmers National Bank lifted its position in shares of Starbucks by 4.7% during the second quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock valued at $4,763,000 after buying an additional 2,737 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $108.58 on Thursday. The firm’s 50 day simple moving average is $95.70 and its 200-day simple moving average is $92.89. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.08. The stock has a market capitalization of $123.11 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the previous year, the business earned $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.25%. Starbucks’s dividend payout ratio is currently 73.72%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup increased 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. Finally, Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.52.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

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.