Equitable Trust Co. Raises Position in Starbucks Co. (NASDAQ:SBUX)

Equitable Trust Co. boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,406 shares of the coffee company’s stock after purchasing an additional 834 shares during the period. Equitable Trust Co.’s holdings in Starbucks were worth $3,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Starbucks in the fourth quarter valued at about $25,000. DT Investment Partners LLC raised its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter valued at approximately $49,000. Friedenthal Financial acquired a new stake in Starbucks during the third quarter valued at approximately $50,000. Finally, Hager Investment Management Services LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $112.20 on Monday. The company has a 50 day simple moving average of $97.12 and a 200-day simple moving average of $94.70. The firm has a market capitalization of $127.45 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $112.62.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on SBUX shares. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Morgan Stanley increased their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.