Ledyard National Bank Has $4.96 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Ledyard National Bank reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 19.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,220 shares of the coffee company’s stock after selling 12,935 shares during the period. Ledyard National Bank’s holdings in Starbucks were worth $4,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $26,000. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Fairman Group LLC bought a new position in Starbucks during the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY boosted its stake in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock worth $601,375 over the last ninety days. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Morgan Stanley cut their target price on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. HSBC lowered their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Jefferies Financial Group cut their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen lowered their target price on Starbucks from $85.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.92.

Starbucks Trading Down 1.2 %

Shares of Starbucks stock traded down $0.91 during trading on Thursday, hitting $74.19. 10,691,282 shares of the stock were exchanged, compared to its average volume of 10,414,644. The company has a fifty day moving average price of $77.93 and a 200-day moving average price of $86.00. The stock has a market capitalization of $84.04 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.94. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share 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 analyst estimates of $9.12 billion. During the same period last year, the firm earned $0.74 EPS. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.07%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.