Starbucks Co. (SBUX) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,515 shares of the coffee company’s stock after selling 132 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Starbucks were worth $2,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Oregon Public Employees Retirement Fund increased its stake in Starbucks by 5,590.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock worth $368,000 after purchasing an additional 23,263,399 shares in the last quarter. Norges Bank purchased a new position in Starbucks in the 4th quarter worth about $807,368,000. Two Sigma Advisers LP purchased a new position in Starbucks in the 4th quarter worth about $352,796,000. Swedbank purchased a new position in Starbucks in the 4th quarter worth about $100,070,000. Finally, Bahl & Gaynor Inc. increased its stake in Starbucks by 55.2% in the 4th quarter. Bahl & Gaynor Inc. now owns 2,638,648 shares of the coffee company’s stock worth $169,929,000 after purchasing an additional 938,163 shares in the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on SBUX. Zacks Investment Research cut Starbucks from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup lifted their target price on Starbucks from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price (up previously from $70.00) on shares of Starbucks in a research note on Monday, May 6th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Finally, Bank of America set a $85.00 target price on Starbucks and gave the company a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and an average target price of $73.38.



Shares of Starbucks stock opened at $76.68 on Tuesday. The stock has a market cap of $94.35 billion, a PE ratio of 31.69, a PEG ratio of 2.18 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $78.80.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. Equities analysts expect that Starbucks Co. will post 2.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.44 annualized dividend and a dividend yield of 1.88%. Starbucks’s dividend payout ratio is 59.50%.

In other news, EVP Vivek C. Varma sold 70,364 shares of Starbucks stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total transaction of $4,928,998.20. Following the completion of the sale, the executive vice president now directly owns 138,004 shares in the company, valued at approximately $9,667,180.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.98% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://dakotafinancialnews.com/2019/05/14/starbucks-co-sbux-shares-sold-by-canandaigua-national-bank-trust-co.html.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: Growth Stocks, What They Are, What They Are Not

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.