Field & Main Bank Has $422,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Field & Main Bank reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,620 shares of the coffee company’s stock after selling 555 shares during the period. Field & Main Bank’s holdings in Starbucks were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Regal Investment Advisors LLC lifted its holdings in shares of Starbucks by 19.8% in the 2nd quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock worth $770,000 after purchasing an additional 1,634 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $219,000. Pathway Financial Advisers LLC raised its stake in shares of Starbucks by 7.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,073 shares of the coffee company’s stock worth $626,000 after purchasing an additional 567 shares during the period. Truist Financial Corp increased its holdings in Starbucks by 21.8% in the 2nd quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock worth $62,816,000 after acquiring an additional 144,516 shares during the last quarter. Finally, Ted Buchan & Co purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $640,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $4.65 during trading on Wednesday, hitting $105.06. The company’s stock had a trading volume of 5,553,899 shares, compared to its average volume of 7,493,912. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.23. The firm has a market cap of $119.11 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 2.91 and a beta of 0.99. The company has a 50-day moving average of $95.70 and a 200-day moving average of $92.89.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same period in the previous year, the company posted $0.90 EPS. As a group, research analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

A number of research firms have recently commented on SBUX. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Citigroup raised their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $105.32.

Starbucks Company 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.