Central Bank & Trust Co. Sells 622 Shares of Starbucks Corporation $SBUX

Central Bank & Trust Co. lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 6.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,939 shares of the coffee company’s stock after selling 622 shares during the period. Central Bank & Trust Co.’s holdings in Starbucks were worth $819,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBUX. Brighton Jones LLC increased its position in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. TrinityPoint Wealth LLC boosted its stake in Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the period. Twinbeech Capital LP purchased a new position in Starbucks during the fourth quarter worth $368,000. St. Clair Advisors LLC purchased a new position in Starbucks during the fourth quarter worth $1,417,000. Finally, Westwood Holdings Group Inc. purchased a new position in Starbucks during the fourth quarter worth $380,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. CICC Research assumed coverage on shares of Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Guggenheim lifted their price objective on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, Barclays lifted their price objective on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Trading Up 1.0%

Shares of SBUX opened at $82.68 on Tuesday. The firm has a market capitalization of $93.98 billion, a P/E ratio of 35.64, a P/E/G ratio of 4.89 and a beta of 1.00. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a fifty day moving average price of $90.23 and a 200-day moving average price of $90.24.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. Analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 3.0%. Starbucks’s dividend payout ratio is 105.17%.

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.