Indiana Trust & Investment Management CO cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,253 shares of the coffee company’s stock after selling 110 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Starbucks Corporation were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vaughan David Investments Inc. IL increased its holdings in shares of Starbucks Corporation by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after purchasing an additional 26 shares during the period. Ingalls & Snyder LLC increased its stake in Starbucks Corporation by 1.1% in the first quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock valued at $223,000 after acquiring an additional 40 shares during the last quarter. Jacobi Capital Management LLC increased its stake in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the last quarter. Keel Point LLC increased its stake in Starbucks Corporation by 1.4% in the first quarter. Keel Point LLC now owns 4,881 shares of the coffee company’s stock valued at $285,000 after acquiring an additional 68 shares during the last quarter. Finally, FCG Advisors LLC increased its stake in Starbucks Corporation by 1.5% in the first quarter. FCG Advisors LLC now owns 5,229 shares of the coffee company’s stock valued at $305,000 after acquiring an additional 76 shares during the last quarter. 70.99% of the stock is currently owned by institutional investors.

In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the transaction, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

A number of analysts have weighed in on SBUX shares. Bank of America Corporation restated a “neutral” rating and issued a $65.00 target price on shares of Starbucks Corporation in a research report on Thursday. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Cowen and Company reiterated a “buy” rating and set a $63.00 price target on shares of Starbucks Corporation in a report on Friday, September 1st. Wedbush raised shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $60.00 in a research note on Friday, August 25th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $64.64.

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Shares of Starbucks Corporation (SBUX) traded up 0.2138% during midday trading on Friday, hitting $54.6466. 4,717,739 shares of the stock were exchanged. The firm has a 50-day moving average of $54.29 and a 200-day moving average of $57.88. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The company has a market capitalization of $78.90 billion, a P/E ratio of 27.5854 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. Starbucks Corporation’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Starbucks Corporation will post $2.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.

About Starbucks Corporation

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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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