Plimoth Trust Co. LLC Sells 285 Shares of Starbucks Co. (NASDAQ:SBUX)

Plimoth Trust Co. LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,451 shares of the coffee company’s stock after selling 285 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Starbucks were worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allen Capital Group LLC boosted its position in shares of Starbucks by 10.2% during the 4th quarter. Allen Capital Group LLC now owns 5,735 shares of the coffee company’s stock worth $523,000 after purchasing an additional 532 shares in the last quarter. Strategic Blueprint LLC raised its holdings in shares of Starbucks by 34.7% in the 4th quarter. Strategic Blueprint LLC now owns 2,890 shares of the coffee company’s stock worth $264,000 after acquiring an additional 745 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Starbucks by 5.0% in the 4th quarter. Hantz Financial Services Inc. now owns 79,927 shares of the coffee company’s stock worth $7,293,000 after acquiring an additional 3,791 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Starbucks by 6.9% in the 4th quarter. Asset Dedication LLC now owns 12,940 shares of the coffee company’s stock worth $1,181,000 after acquiring an additional 832 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Starbucks in the 4th quarter worth about $172,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SBUX shares. Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Citigroup increased their price objective 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. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $105.32.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX traded up $5.38 during trading hours on Wednesday, hitting $105.79. The stock had a trading volume of 8,115,675 shares, compared to its average volume of 7,534,067. The company has a 50 day simple moving average of $95.70 and a two-hundred day simple moving average of $92.89. Starbucks Co. has a one year low of $71.55 and a one year high of $107.23. The firm has a market capitalization of $119.95 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 2.91 and a beta of 0.99.

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

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.31%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.