Hilltop National Bank Purchases 1,176 Shares of Starbucks Co. (NASDAQ:SBUX)

Hilltop National Bank increased its position in Starbucks Co. (NASDAQ:SBUX) by 293.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,577 shares of the coffee company’s stock after buying an additional 1,176 shares during the quarter. Hilltop National Bank’s holdings in Starbucks were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Norges Bank bought a new stake in Starbucks in the fourth quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC lifted its position in Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Evercore ISI cut Starbucks from an “outperform” rating to an “inline” rating and reduced their target price for the company from $92.00 to $80.00 in a research note 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. Barclays reduced their target price on Starbucks from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, HSBC reduced their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.88.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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. Over the last three months, insiders have sold 7,250 shares of company stock valued at $579,375. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.08 during trading on Wednesday, hitting $75.29. 7,291,760 shares of the company’s stock traded hands, compared to its average volume of 10,851,646. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market capitalization of $85.32 billion, a P/E ratio of 20.99, a PEG ratio of 1.76 and a beta of 0.94. The business has a 50-day simple moving average of $77.47 and a 200-day simple moving average of $84.29.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm posted $1.00 earnings per share. Starbucks’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 3.03%. Starbucks’s payout ratio is 62.81%.

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.