First Financial Bank Trust Division Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

First Financial Bank Trust Division cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.7% in the second quarter, HoldingsChannel reports. The firm owned 4,930 shares of the coffee company’s stock after selling 188 shares during the period. First Financial Bank Trust Division’s holdings in Starbucks were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks during the fourth quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks during the 4th quarter worth $27,000. Fairman Group LLC acquired a new position in Starbucks during the 4th quarter worth $30,000. Finally, Cypress Capital Management LLC WY grew 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 buying an additional 185 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI downgraded shares of Starbucks from an “outperform” rating to an “inline” rating and reduced their price target for the company from $92.00 to $80.00 in a research report on Tuesday, July 16th. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company cut their price target on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Citigroup dropped their price target on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $90.88.

Starbucks Trading Down 2.7 %

SBUX traded down $2.02 during trading hours on Monday, hitting $73.86. The company’s stock had a trading volume of 12,367,850 shares, compared to its average volume of 10,878,210. The firm has a market capitalization of $83.66 billion, a PE ratio of 20.07, a PEG ratio of 1.74 and a beta of 0.94. The company has a 50-day simple moving average of $77.62 and a 200 day simple moving average of $84.56. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.09%. Starbucks’s payout ratio is presently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on 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 owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock valued at $579,375 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Starbucks 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.