Busey Bank Sells 123,876 Shares of Starbucks Co. (NASDAQ:SBUX)

Busey Bank lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 56.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,855 shares of the coffee company’s stock after selling 123,876 shares during the period. Busey Bank’s holdings in Starbucks were worth $9,247,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SBUX. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.4% in the 1st 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 in the last quarter. Legal & General Group Plc increased its holdings in Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Flossbach Von Storch AG raised its stake 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 worth $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Starbucks by 5.2% during the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in Starbucks during the 1st quarter valued at $415,167,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Barclays lifted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Finally, BTIG Research upped their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Stock Down 0.5 %

NASDAQ:SBUX opened at $97.15 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock’s fifty day moving average is $95.38 and its two-hundred day moving average is $84.89. The stock has a market capitalization of $110.09 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 63.87%.

Starbucks Company 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.