Culbertson A N & Co. Inc. Has $1.09 Million Stock Holdings in Starbucks Corporation $SBUX

Culbertson A N & Co. Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 31.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,918 shares of the coffee company’s stock after selling 5,980 shares during the period. Culbertson A N & Co. Inc.’s holdings in Starbucks were worth $1,093,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SBUX. Norges Bank bought a new position in Starbucks in the second quarter valued at about $1,246,316,000. Corient Private Wealth LLC increased its stake in Starbucks by 146.6% during the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock worth $553,201,000 after purchasing an additional 3,596,014 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Starbucks by 11.2% during the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after acquiring an additional 1,286,451 shares during the period. California Public Employees Retirement System boosted its position in shares of Starbucks by 68.0% during the second quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after buying an additional 1,225,447 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Starbucks by 22.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock worth $511,202,000 after acquiring an additional 1,026,056 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. TD Cowen reissued a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a report on Monday, December 1st. Barclays reiterated an “overweight” rating and set a $110.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday. Dbs Bank cut Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 29th. Finally, Mizuho set a $86.00 price objective on Starbucks and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $102.12.

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $88.88 on Friday. The business’s 50 day simple moving average is $85.13 and its two-hundred day simple moving average is $87.10. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $101.07 billion, a P/E ratio of 54.20, a PEG ratio of 1.87 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, February 13th. Starbucks’s payout ratio is currently 151.22%.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.