Starbucks Co. (SBUX) Shares Sold by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 22.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,277 shares of the coffee company’s stock after selling 1,558 shares during the period. First Citizens Bank & Trust Co.’s holdings in Starbucks were worth $303,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $111,000. Jacobi Capital Management LLC raised its stake in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after acquiring an additional 129 shares during the period. Valley National Advisers Inc. raised its stake in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after acquiring an additional 57 shares during the period. Horan Capital Advisors LLC. purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $131,000. Finally, Aviance Capital Management LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $146,000. 71.92% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on SBUX. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price target on the stock. in a research note on Wednesday. Credit Suisse Group dropped their price objective on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Deutsche Bank restated a “buy” rating and issued a $63.00 price objective on shares of Starbucks in a report on Friday, January 26th. OTR Global upgraded shares of Starbucks to a “positive” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.63.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. equities analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.16%. The ex-dividend date is Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is presently 39.60%.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares in the company, valued at approximately $2,126,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders have sold a total of 329,492 shares of company stock valued at $18,859,801 in the last quarter. 3.48% of the stock is currently owned by company insiders.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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