Trust Co. of Toledo NA OH increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,023 shares of the coffee company’s stock after acquiring an additional 517 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Starbucks were worth $2,516,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hoover Financial Advisors Inc. purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Oxler Private Wealth LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $32,000. Clark Financial Advisors acquired a new position in shares of Starbucks in the 4th quarter valued at $33,000. Phoenix Wealth Advisors acquired a new position in shares of Starbucks in the 4th quarter valued at $39,000. Finally, Freedman Financial Associates Inc. acquired a new stake in Starbucks during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 67.27% of the company’s stock.
In other Starbucks news, EVP Rachel A. Gonzalez sold 82,894 shares of the stock in a transaction on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the completion of the transaction, the executive vice president now directly owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin R. Johnson sold 153,290 shares of the stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $109.12, for a total value of $16,727,004.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 406,184 shares of company stock valued at $44,685,798. Company insiders own 0.41% of the company’s stock.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Monday, January 25th. The coffee company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. Starbucks’s revenue was down 4.9% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Thursday, May 13th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, May 12th. This represents a $1.80 annualized dividend and a yield of 1.59%. Starbucks’s payout ratio is currently 153.85%.
Several analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Starbucks from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, December 10th. Wedbush upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the company from $108.00 to $124.00 in a report on Thursday, March 25th. Jefferies Financial Group increased their price target on shares of Starbucks from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, December 10th. Tigress Financial reiterated a “buy” rating on shares of Starbucks in a report on Sunday, January 31st. Finally, Stephens raised their target price on shares of Starbucks from $86.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, December 10th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Starbucks has an average rating of “Buy” and a consensus target price of $107.22.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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