Coastline Trust Co Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)
Coastline Trust Co boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,910 shares of the coffee company’s stock after acquiring an additional 1,335 shares during the period. Coastline Trust Co’s holdings in Starbucks were worth $1,882,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of SBUX. HighMark Wealth Management LLC grew its stake in shares of Starbucks by 351.9% during the 2nd quarter. HighMark Wealth Management LLC now owns 366 shares of the coffee company’s stock valued at $27,000 after purchasing an additional 285 shares during the period. AlphaMark Advisors LLC grew its stake in shares of Starbucks by 175.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 372 shares of the coffee company’s stock valued at $27,000 after purchasing an additional 237 shares during the period. Centerpoint Advisors LLC grew its stake in shares of Starbucks by 4,644.4% during the 2nd quarter. Centerpoint Advisors LLC now owns 427 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 418 shares during the period. Shine Investment Advisory Services Inc. grew its stake in shares of Starbucks by 63.5% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 453 shares of the coffee company’s stock valued at $33,000 after acquiring an additional 176 shares during the period. Finally, Atticus Wealth Management LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $37,000. 68.36% of the stock is owned by institutional investors and hedge funds.
SBUX opened at $88.52 on Friday. Starbucks Co. has a 12-month low of $50.02 and a 12-month high of $94.13. The business’s fifty day simple moving average is $86.35 and its 200-day simple moving average is $78.11. The company has a market capitalization of $103.48 billion, a price-to-earnings ratio of 79.75, a PEG ratio of 6.38 and a beta of 0.81.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.80 dividend on an annualized basis and a yield of 2.03%. This is an increase from Starbucks’s previous quarterly dividend of $0.41. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.
In related news, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $84.77, for a total transaction of $360,442.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Clara Shih sold 37,498 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $79.13, for a total value of $2,967,216.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,764 shares of company stock worth $13,404,656. 0.41% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Starbucks from $87.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Monday, August 24th. Oppenheimer boosted their price target on Starbucks from $85.00 to $101.00 and gave the stock an “outperform” rating in a report on Monday, October 5th. Barclays boosted their price target on Starbucks from $88.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price target on Starbucks from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Starbucks presently has an average rating of “Hold” and an average target price of $86.73.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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