Raymond James Trust N.A. Has $12.32 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Raymond James Trust N.A. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,345 shares of the coffee company’s stock after selling 3,148 shares during the period. Raymond James Trust N.A.’s holdings in Starbucks were worth $12,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Marshall Wace LLP lifted its stake in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in Starbucks in the 2nd quarter valued at approximately $243,910,000. Capital World Investors bought a new position in Starbucks in the 1st quarter valued at approximately $257,721,000. Van ECK Associates Corp lifted its stake in Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after purchasing an additional 2,324,847 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Starbucks by 89.2% in the 2nd quarter. National Bank of Canada FI now owns 2,553,739 shares of the coffee company’s stock valued at $196,943,000 after purchasing an additional 1,204,153 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $99.97 on Friday. The stock has a market capitalization of $113.29 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.85 and a beta of 0.97. The company has a 50-day moving average price of $97.03 and a 200-day moving average price of $86.79. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $104.68.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SBUX. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.81.

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.