Atlantic Union Bankshares Corp Has $3.78 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Atlantic Union Bankshares Corp lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.6% during the 1st quarter, HoldingsChannel reports. The fund owned 41,335 shares of the coffee company’s stock after selling 2,918 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $3,778,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Operose Advisors LLC bought a new position in Starbucks in the third quarter valued at approximately $53,000. O Shaughnessy Asset Management LLC grew its stake in Starbucks by 18.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 98,682 shares of the coffee company’s stock valued at $9,007,000 after purchasing an additional 15,680 shares in the last quarter. Mather Group LLC. grew its stake in Starbucks by 20.1% in the third quarter. Mather Group LLC. now owns 16,744 shares of the coffee company’s stock valued at $1,528,000 after purchasing an additional 2,803 shares in the last quarter. Vinva Investment Management Ltd grew its stake in Starbucks by 4.1% in the third quarter. Vinva Investment Management Ltd now owns 18,338 shares of the coffee company’s stock valued at $1,670,000 after purchasing an additional 714 shares in the last quarter. Finally, Roundview Capital LLC lifted its position in shares of Starbucks by 117.4% in the third quarter. Roundview Capital LLC now owns 18,264 shares of the coffee company’s stock valued at $1,667,000 after buying an additional 9,862 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Piper Sandler cut their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and cut their price target for the stock from $108.00 to $89.00 in a report on Wednesday, May 1st. Finally, Evercore ISI cut their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.54.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $1.39 during trading hours on Friday, reaching $77.85. The stock had a trading volume of 13,198,994 shares, compared to its average volume of 10,447,203. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The firm’s 50 day moving average is $79.66 and its 200-day moving average is $88.09. The stock has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. Analysts forecast that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock valued at $878,893. Insiders own 1.98% of the company’s stock.

Starbucks 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.