Starbucks Co. (NASDAQ:SBUX) Holdings Cut by Bath Savings Trust Co

Bath Savings Trust Co decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 51.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,186 shares of the coffee company’s stock after selling 19,521 shares during the period. Bath Savings Trust Co’s holdings in Starbucks were worth $1,659,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. FMR LLC boosted its holdings in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the period. Marshall Wace LLP raised its holdings in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Starbucks during the second quarter valued at approximately $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX stock traded down $0.90 on Tuesday, hitting $92.23. 2,943,493 shares of the company’s stock were exchanged, compared to its average volume of 6,313,100. The firm has a 50 day moving average price of $96.55 and a two-hundred day moving average price of $90.77. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The stock has a market cap of $104.57 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. Sell-side analysts expect that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush dropped their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.77.

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.