Atlantic Union Bankshares Corp Has $4.14 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Atlantic Union Bankshares Corp lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,424 shares of the coffee company’s stock after selling 2,126 shares during the period. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $4,136,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC grew its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America cut their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Trading Up 0.8 %

NASDAQ SBUX opened at $101.51 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a 50-day moving average of $97.50 and a 200-day moving average of $87.74. The firm has a market cap of $115.09 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results 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 negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 73.72%.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate 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.