FARMERS & MERCHANTS TRUST Co OF LONG BEACH Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 12,157 shares of the coffee company’s stock after acquiring an additional 150 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Starbucks were worth $1,109,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter valued at approximately $25,000. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks during the 3rd quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Starbucks in the third quarter valued at $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks in the third quarter valued at $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

NASDAQ:SBUX opened at $95.13 on Friday. The firm has a 50-day simple moving average of $95.89 and a 200-day simple moving average of $91.38. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The firm has a market cap of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. On average, research analysts predict that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBUX. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley upped their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.