AMG National Trust Bank Sells 1,098 Shares of Starbucks Co. (NASDAQ:SBUX)

AMG National Trust Bank lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 25.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,282 shares of the coffee company’s stock after selling 1,098 shares during the period. AMG National Trust Bank’s holdings in Starbucks were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Dakota Wealth Management lifted its holdings in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. increased its holdings in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC raised its stake in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC raised its position in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after buying an additional 9,936 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after acquiring an additional 9,900 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Barclays dropped their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Stock Down 2.0 %

NASDAQ SBUX opened at $98.35 on Wednesday. The company has a market cap of $111.45 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $105.47. The business’s fifty day moving average is $97.01 and its 200 day moving average is $86.62.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared 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 is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

About Starbucks

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.