OLD Second National Bank of Aurora Cuts Position in Starbucks Co. (NASDAQ:SBUX)

OLD Second National Bank of Aurora cut its stake in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the fourth quarter, HoldingsChannel reports. The fund owned 27,230 shares of the coffee company’s stock after selling 550 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Starbucks were worth $2,614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Freedom Wealth Alliance LLC acquired a new stake in Starbucks during the 4th quarter worth about $26,000. Riggs Asset Managment Co. Inc. raised its stake in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Atticus Wealth Management LLC raised its stake in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Starbucks during the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the 1st quarter valued at about $37,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 7,250 shares of company stock worth $653,183 in the last ninety days. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBUX. Citigroup dropped their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. BMO Capital Markets cut their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Barclays cut their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. HSBC assumed coverage on Starbucks in a research note on Wednesday, December 20th. They set a “hold” rating and a $107.00 target price for the company. Finally, StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $107.43.

Starbucks Trading Up 0.8 %

Shares of NASDAQ:SBUX traded up $0.68 during trading on Thursday, hitting $86.89. 2,100,117 shares of the stock were exchanged, compared to its average volume of 8,283,975. The company has a fifty day moving average price of $91.33 and a two-hundred day moving average price of $94.47. The company has a market cap of $98.38 billion, a PE ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company earned $0.75 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.62%. Starbucks’s payout ratio is 60.96%.

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.