Starbucks Co. (NASDAQ:SBUX) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,151 shares of the coffee company’s stock after selling 1,327 shares during the period. WASHINGTON TRUST Co’s holdings in Starbucks were worth $926,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SBUX. Cornerstone Wealth Management LLC increased its position in shares of Starbucks by 4.7% during the third quarter. Cornerstone Wealth Management LLC now owns 5,671 shares of the coffee company’s stock worth $553,000 after purchasing an additional 252 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $230,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Starbucks by 4.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock valued at $12,405,000 after acquiring an additional 5,534 shares during the period. Onyx Bridge Wealth Group LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $226,000. Finally, Claro Advisors LLC increased its position in shares of Starbucks by 35.8% in the 3rd quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock valued at $1,653,000 after acquiring an additional 4,474 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Down 0.4 %

SBUX opened at $112.55 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $113.47. The company has a 50-day moving average price of $98.28 and a 200 day moving average price of $95.87. The company has a market cap of $127.85 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s payout ratio is 78.71%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by 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.