Trust Co. of Toledo NA OH Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Trust Co. of Toledo NA OH lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,436 shares of the coffee company’s stock after selling 298 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Starbucks were worth $1,956,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. Fairfield Financial Advisors LTD bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $41,000. DT Investment Partners LLC raised its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in Starbucks in the third quarter worth $49,000. Finally, Friedenthal Financial bought a new position in Starbucks during the third quarter valued at $50,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SBUX. Citigroup increased their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have issued 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, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.03 on Monday, reaching $92.22. 1,337,063 shares of the company were exchanged, compared to its average volume of 6,121,590. The stock’s 50 day moving average price is $96.13 and its 200-day moving average price is $91.13. The company has a market cap of $104.56 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the business earned $1.06 EPS. The company’s revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.11 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. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.