Parkside Financial Bank & Trust Acquires 1,015 Shares of Starbucks Co. (NASDAQ:SBUX)

Parkside Financial Bank & Trust increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,915 shares of the coffee company’s stock after buying an additional 1,015 shares during the period. Parkside Financial Bank & Trust’s holdings in Starbucks were worth $664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Riggs Asset Managment Co. Inc. lifted its stake in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC lifted its stake in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in Starbucks in the 4th quarter worth approximately $38,000. Tennessee Valley Asset Management Partners purchased a new stake in Starbucks in the 4th quarter worth approximately $38,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $40,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday. Stifel Nicolaus dropped their target price on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, January 16th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Stock Performance

SBUX stock traded down $0.23 on Tuesday, reaching $87.95. The company’s stock had a trading volume of 3,723,387 shares, compared to its average volume of 8,396,831. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The business has a fifty day simple moving average of $90.80 and a two-hundred day simple moving average of $94.42. The firm has a market cap of $99.58 billion, a PE ratio of 23.53, a PEG ratio of 1.42 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Starbucks’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 4.01 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.59%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 7,000 shares of company stock valued at $629,738 over the last ninety days. Insiders own 1.98% of the company’s stock.

Starbucks 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.