Community Bank N.A. Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Community Bank N.A. boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,705 shares of the coffee company’s stock after buying an additional 1,365 shares during the period. Community Bank N.A.’s holdings in Starbucks were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. CX Institutional grew its position in shares of Starbucks by 298.7% during the 3rd quarter. CX Institutional now owns 38,472 shares of the coffee company’s stock valued at $3,511,000 after purchasing an additional 28,822 shares in the last quarter. DDD Partners LLC grew its position in Starbucks by 5.7% in the third quarter. DDD Partners LLC now owns 7,311 shares of the coffee company’s stock worth $668,000 after acquiring an additional 395 shares in the last quarter. Galvin Gaustad & Stein LLC grew its position in Starbucks by 2.5% in the third quarter. Galvin Gaustad & Stein LLC now owns 203,616 shares of the coffee company’s stock worth $18,584,000 after acquiring an additional 5,027 shares in the last quarter. Keudell Morrison Wealth Management grew its position in Starbucks by 2.7% in the third quarter. Keudell Morrison Wealth Management now owns 8,476 shares of the coffee company’s stock worth $774,000 after acquiring an additional 221 shares in the last quarter. Finally, Secure Asset Management LLC grew its position in Starbucks by 32.0% in the third quarter. Secure Asset Management LLC now owns 3,248 shares of the coffee company’s stock worth $296,000 after acquiring an additional 787 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX traded down $0.63 on Thursday, hitting $88.12. 3,895,903 shares of the stock traded hands, compared to its average volume of 8,349,980. The company has a market capitalization of $99.77 billion, a PE ratio of 23.48, a P/E/G ratio of 1.48 and a beta of 0.97. The business has a 50 day simple moving average of $90.57 and a 200 day simple moving average of $94.35. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 in the last 90 days. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBUX. BMO Capital Markets lowered their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. TD Cowen reaffirmed a “hold” rating and set a $100.00 price objective on shares of Starbucks in a research note on Thursday, April 11th. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. BTIG Research lowered their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $106.68.

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.