Central Bank & Trust Co. Sells 622 Shares of Starbucks Corporation $SBUX

Central Bank & Trust Co. reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,939 shares of the coffee company’s stock after selling 622 shares during the quarter. Central Bank & Trust Co.’s holdings in Starbucks were worth $819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks during the 4th quarter valued at about $25,000. Hughes Financial Services LLC purchased a new stake in shares of Starbucks during the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter valued at about $29,000. Finally, Nova Wealth Management Inc. boosted its holdings in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SBUX shares. Wells Fargo & Company raised their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. CICC Research started coverage on shares of Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Price Performance

Starbucks stock opened at $82.68 on Tuesday. The stock has a market cap of $93.98 billion, a P/E ratio of 35.64, a PEG ratio of 4.89 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm’s 50 day moving average price is $90.23 and its 200-day moving average price is $90.24.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 15th. Starbucks’s payout ratio is currently 105.17%.

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.