Field & Main Bank Sells 175 Shares of Starbucks Corporation $SBUX

Field & Main Bank lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,785 shares of the coffee company’s stock after selling 175 shares during the period. Field & Main Bank’s holdings in Starbucks were worth $347,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at about $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks in the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. acquired a new stake in Starbucks in the 2nd quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC raised its position in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Starbucks in the 1st quarter valued at approximately $29,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Piper Sandler set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Stifel Nicolaus boosted their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Trading Down 1.5%

SBUX stock opened at $84.17 on Thursday. The business’s 50 day simple moving average is $84.68 and its 200 day simple moving average is $87.50. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $95.68 billion, a PE ratio of 36.28, a PEG ratio of 4.34 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.80 earnings per share. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 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.