Arlington Trust Co LLC Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Arlington Trust Co LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 60.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 478 shares of the coffee company’s stock after selling 725 shares during the quarter. Arlington Trust Co LLC’s holdings in Starbucks were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Legal & General Group Plc grew its position in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Flossbach Von Storch AG increased its stake in Starbucks by 106.7% during the 1st 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 in the last quarter. Nordea Investment Management AB increased its stake in Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks in the first quarter worth $415,167,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research analyst reports. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase 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 Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Price Performance

Starbucks stock traded up $1.17 during trading hours on Friday, hitting $98.87. The stock had a trading volume of 8,860,191 shares, compared to its average volume of 7,444,304. The stock has a market capitalization of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock’s fifty day moving average is $95.98 and its two-hundred day moving average is $85.47.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 68.88%.

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.