Zions Bancorporation N.A. Acquires 16,985 Shares of Starbucks Co. (NASDAQ:SBUX)

Zions Bancorporation N.A. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 434.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,897 shares of the coffee company’s stock after acquiring an additional 16,985 shares during the period. Zions Bancorporation N.A.’s holdings in Starbucks were worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Plato Investment Management Ltd boosted its holdings in shares of Starbucks by 2.9% in the 3rd quarter. Plato Investment Management Ltd now owns 14,451 shares of the coffee company’s stock valued at $1,407,000 after buying an additional 403 shares in the last quarter. Schrum Private Wealth Management LLC boosted its holdings in shares of Starbucks by 100.0% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 5,738 shares of the coffee company’s stock valued at $559,000 after buying an additional 2,869 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Starbucks by 3.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 220,529 shares of the coffee company’s stock valued at $21,499,000 after buying an additional 8,151 shares in the last quarter. GHE LLC boosted its holdings in shares of Starbucks by 0.5% in the 3rd quarter. GHE LLC now owns 44,795 shares of the coffee company’s stock valued at $4,344,000 after buying an additional 233 shares in the last quarter. Finally, Rossmore Private Capital boosted its holdings in shares of Starbucks by 0.6% in the 3rd quarter. Rossmore Private Capital now owns 22,254 shares of the coffee company’s stock valued at $2,155,000 after buying an additional 142 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday. Finally, Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.31.

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.23 on Friday. The stock has a fifty day moving average price of $96.45 and a two-hundred day moving average price of $86.03. The stock has a market capitalization of $112.45 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 2.89 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. On average, analysts predict that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 68.88%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 1.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Starbucks Company 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.