Norway Savings Bank Buys 125 Shares of Starbucks Co. (NASDAQ:SBUX)

Norway Savings Bank grew its stake in Starbucks Co. (NASDAQ:SBUX) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 10,765 shares of the coffee company’s stock after purchasing an additional 125 shares during the period. Norway Savings Bank’s holdings in Starbucks were worth $1,187,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Bell Bank lifted its holdings in shares of Starbucks by 0.5% in the second quarter. Bell Bank now owns 15,838 shares of the coffee company’s stock valued at $1,771,000 after purchasing an additional 83 shares in the last quarter. Torray LLC lifted its holdings in shares of Starbucks by 2.1% in the second quarter. Torray LLC now owns 4,085 shares of the coffee company’s stock valued at $457,000 after purchasing an additional 85 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Starbucks by 1.7% in the second quarter. Thoroughbred Financial Services LLC now owns 5,304 shares of the coffee company’s stock valued at $593,000 after purchasing an additional 88 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Starbucks by 0.8% in the second quarter. Westfield Capital Management Co. LP now owns 10,840 shares of the coffee company’s stock valued at $1,212,000 after purchasing an additional 90 shares in the last quarter. Finally, GYL Financial Synergies LLC lifted its holdings in shares of Starbucks by 1.3% in the second quarter. GYL Financial Synergies LLC now owns 7,529 shares of the coffee company’s stock valued at $842,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 68.27% of the company’s stock.

In other Starbucks news, insider Michael Aaron Conway sold 47,088 shares of Starbucks stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $111.50, for a total transaction of $5,250,312.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Woods sold 4,030 shares of Starbucks stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $113.41, for a total value of $457,042.30. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

Starbucks stock opened at $113.97 on Thursday. Starbucks Co. has a 52 week low of $95.92 and a 52 week high of $126.32. The business has a 50-day simple moving average of $112.55 and a 200 day simple moving average of $114.44. The stock has a market cap of $134.38 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.60 and a beta of 0.84.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, October 28th. The coffee company reported $1.00 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. Starbucks had a negative return on equity of 55.34% and a net margin of 14.45%. The business had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue was up 30.6% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 3.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 25th. Investors of record on Friday, February 11th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, February 10th. Starbucks’s payout ratio is 55.21%.

A number of research firms have recently weighed in on SBUX. Stephens upgraded Starbucks from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $118.00 to $130.00 in a report on Monday, November 1st. Cowen dropped their price target on Starbucks from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Credit Suisse Group dropped their price target on Starbucks from $137.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Royal Bank of Canada dropped their price target on Starbucks from $131.00 to $124.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Finally, Wells Fargo & Company dropped their price target on Starbucks from $135.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, October 29th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has a consensus rating of “Buy” and an average price target of $123.00.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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