Argent Trust Co grew its position in Starbucks Co. (NASDAQ:SBUX) by 14.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,307 shares of the coffee company’s stock after acquiring an additional 9,163 shares during the period. Argent Trust Co’s holdings in Starbucks were worth $4,885,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its holdings in shares of Starbucks by 2.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 383,061 shares of the coffee company’s stock worth $33,679,000 after buying an additional 9,697 shares during the period. RFG Advisory LLC boosted its holdings in shares of Starbucks by 8.6% during the 4th quarter. RFG Advisory LLC now owns 7,892 shares of the coffee company’s stock worth $694,000 after buying an additional 628 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $106,000. Savior LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $78,000. Finally, Merriman Wealth Management LLC raised its stake in Starbucks by 4.2% in the 4th quarter. Merriman Wealth Management LLC now owns 26,760 shares of the coffee company’s stock worth $2,353,000 after purchasing an additional 1,083 shares in the last quarter. 67.70% of the stock is owned by institutional investors.
Shares of SBUX stock traded down $0.45 during trading hours on Friday, reaching $77.60. The stock had a trading volume of 5,316,833 shares, compared to its average volume of 11,681,918. The stock’s fifty day simple moving average is $73.45 and its 200 day simple moving average is $80.80. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $99.72. The firm has a market capitalization of $90.41 billion, a PE ratio of 27.47, a PEG ratio of 4.55 and a beta of 0.80.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, May 7th. Starbucks’s dividend payout ratio is currently 57.95%.
In other Starbucks news, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $70.14, for a total transaction of $140,280.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $74.89, for a total transaction of $318,432.28. Following the transaction, the director now directly owns 22,728 shares in the company, valued at $1,702,099.92. The disclosure for this sale can be found here. Insiders sold 10,504 shares of company stock worth $726,546 over the last ninety days. 0.41% of the stock is currently owned by insiders.
SBUX has been the subject of several analyst reports. MKM Partners boosted their target price on shares of Starbucks from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Argus reduced their price objective on shares of Starbucks from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. UBS Group increased their target price on shares of Starbucks from $73.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Telsey Advisory Group reissued a “market perform” rating on shares of Starbucks in a research note on Friday, March 6th. Finally, Stephens lowered their price objective on shares of Starbucks from $80.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.77.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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