Field & Main Bank Has $504,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Field & Main Bank trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 38.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,175 shares of the coffee company’s stock after selling 3,290 shares during the quarter. Field & Main Bank’s holdings in Starbucks were worth $504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Acorn Financial Advisory Services Inc. ADV acquired a new position in shares of Starbucks in the third quarter worth about $211,000. Cypress Point Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth approximately $653,000. Tompkins Financial Corp boosted its holdings in shares of Starbucks by 78.0% during the third quarter. Tompkins Financial Corp now owns 1,045 shares of the coffee company’s stock worth $102,000 after purchasing an additional 458 shares during the period. TCTC Holdings LLC boosted its holdings in shares of Starbucks by 3.2% during the third quarter. TCTC Holdings LLC now owns 11,276 shares of the coffee company’s stock worth $1,099,000 after purchasing an additional 350 shares during the period. Finally, 5th Street Advisors LLC acquired a new stake in shares of Starbucks during the third quarter worth approximately $211,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $97.55 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm’s fifty day moving average price is $96.07 and its two-hundred day moving average price is $85.81. The company has a market capitalization of $110.54 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.78 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company earned $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.88%.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SBUX shares. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. UBS Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Wedbush cut their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

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.