Somerset Trust Co Has $498,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Somerset Trust Co grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,462 shares of the coffee company’s stock after purchasing an additional 529 shares during the period. Somerset Trust Co’s holdings in Starbucks were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC increased its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP raised its holdings in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SBUX shares. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $103.92.

Starbucks Price Performance

NASDAQ:SBUX opened at $95.13 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company has a market cap of $107.86 billion, a PE ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. The firm’s 50 day simple moving average is $95.89 and its 200 day simple moving average is $91.38.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

About Starbucks

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.