Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Somerset Trust Co

Somerset Trust Co raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,009 shares of the coffee company’s stock after buying an additional 547 shares during the period. Somerset Trust Co’s holdings in Starbucks were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Capital & Planning LLC lifted its position in Starbucks by 40.7% during the fourth quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock valued at $1,099,000 after buying an additional 3,483 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Strategic Blueprint LLC lifted its position in shares of Starbucks by 34.7% during the fourth quarter. Strategic Blueprint LLC now owns 2,890 shares of the coffee company’s stock worth $264,000 after purchasing an additional 745 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of Starbucks by 5.4% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,623 shares of the coffee company’s stock worth $787,000 after purchasing an additional 439 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Starbucks during the fourth quarter worth $323,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th. Robert W. Baird reissued a “neutral” rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Tuesday, March 18th. Finally, Citigroup reduced their target price on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.92.

Starbucks Stock Performance

Starbucks stock opened at $83.68 on Friday. The company has a 50-day simple moving average of $85.54 and a 200-day simple moving average of $95.60. The firm has a market capitalization of $95.09 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s payout ratio is currently 88.41%.

About Starbucks

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.