Lincoln National Corp Has $8.37 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Lincoln National Corp raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,178 shares of the coffee company’s stock after buying an additional 11,108 shares during the quarter. Lincoln National Corp’s holdings in Starbucks were worth $8,370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orca Investment Management LLC grew its holdings in shares of Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after purchasing an additional 7,619 shares during the last quarter. FFT Wealth Management LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $209,000. Finally, Tyche Wealth Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $794,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. Evercore ISI lowered their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. BTIG Research decreased their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. HSBC decreased their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday. Finally, DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.43.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.40 during trading hours on Tuesday, reaching $72.50. 21,792,566 shares of the company’s stock were exchanged, compared to its average volume of 9,714,288. The company’s 50-day moving average is $88.46 and its two-hundred day moving average is $93.69. Starbucks Co. has a one year low of $71.80 and a one year high of $108.12. The company has a market capitalization of $82.12 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the company posted $0.74 earnings per share. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts predict that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.14%. Starbucks’s payout ratio is 62.81%.

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.