Union Savings Bank Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Union Savings Bank lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,954 shares of the coffee company’s stock after buying an additional 184 shares during the period. Union Savings Bank’s holdings in Starbucks were worth $188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in shares of Starbucks by 0.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 326,278 shares of the coffee company’s stock valued at $29,779,000 after acquiring an additional 2,790 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Starbucks by 7.9% in the third quarter. EverSource Wealth Advisors LLC now owns 12,373 shares of the coffee company’s stock valued at $1,129,000 after purchasing an additional 910 shares in the last quarter. Syon Capital LLC acquired a new position in shares of Starbucks in the third quarter valued at approximately $762,000. Regent Peak Wealth Advisors LLC grew its holdings in shares of Starbucks by 8.7% in the third quarter. Regent Peak Wealth Advisors LLC now owns 25,096 shares of the coffee company’s stock valued at $2,291,000 after purchasing an additional 2,001 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Starbucks in the third quarter valued at approximately $3,149,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 1.9 %

SBUX traded down $1.55 on Thursday, reaching $79.17. The stock had a trading volume of 4,810,119 shares, compared to its average volume of 10,163,757. The firm has a 50-day moving average of $84.58 and a 200-day moving average of $92.14. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The company has a market capitalization of $89.68 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the company earned $0.74 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 3.63 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 3,750 shares of company stock valued at $322,675. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. Piper Sandler dropped their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Citigroup reduced their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Guggenheim dropped their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Robert W. Baird lowered their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $96.43.

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.