Trust Co. of Toledo NA OH Has $1.80 Million Holdings in Starbucks Corporation $SBUX

Trust Co. of Toledo NA OH cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,656 shares of the coffee company’s stock after selling 181 shares during the period. Trust Co. of Toledo NA OH’s holdings in Starbucks were worth $1,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Alliance Wealth Advisors LLC grew its stake in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after acquiring an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after acquiring an additional 117 shares in the last quarter. Diligent Investors LLC lifted its position in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the period. Ted Buchan & Co lifted its position in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares during the period. Finally, Alexander Labrunerie & CO. Inc. lifted its position in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. CICC Research began coverage on shares of Starbucks in a research report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. TD Securities reaffirmed a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. Finally, Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.56.

Starbucks Trading Down 1.7%

SBUX stock opened at $78.46 on Friday. The stock has a market capitalization of $89.19 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 3.93 and a beta of 1.01. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a 50-day moving average price of $86.48 and a 200-day moving average price of $88.02.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.2%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.