VeraBank N.A. Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

VeraBank N.A. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,072 shares of the coffee company’s stock after selling 1,145 shares during the quarter. VeraBank N.A.’s holdings in Starbucks were worth $1,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $62,000. Dakota Wealth Management boosted its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. boosted its holdings in shares of Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares in the last quarter. Maia Wealth LLC grew its holdings in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBUX. Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Finally, UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Trading Down 0.4 %

Shares of NASDAQ SBUX opened at $112.55 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47. The stock has a fifty day moving average price of $98.28 and a 200 day moving average price of $95.87. The company has a market cap of $127.85 billion, a P/E ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.