Starbucks Co. (NASDAQ:SBUX) Holdings Raised by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its position in Starbucks Co. (NASDAQ:SBUX) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 133,461 shares of the coffee company’s stock after buying an additional 2,111 shares during the period. Wesbanco Bank Inc.’s holdings in Starbucks were worth $12,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. DT Investment Partners LLC grew its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new position in Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial bought a new position in Starbucks during the 3rd quarter worth $50,000. Finally, Capital Performance Advisors LLP bought a new position in Starbucks during the 3rd quarter worth $71,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SBUX shares. Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada started coverage on Starbucks in a research note on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective for the company. UBS Group upped their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, Redburn Atlantic reissued a “sell” rating and issued 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, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Down 0.3 %

Shares of NASDAQ SBUX opened at $97.73 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a market cap of $110.81 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The business has a fifty day simple moving average of $95.72 and a 200-day simple moving average of $92.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

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.