Parkside Financial Bank & Trust Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

Parkside Financial Bank & Trust grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 17.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,915 shares of the coffee company’s stock after purchasing an additional 1,015 shares during the period. Parkside Financial Bank & Trust’s holdings in Starbucks were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SBUX. Capital Investment Advisors LLC lifted its holdings in Starbucks by 1.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 12,710 shares of the coffee company’s stock worth $1,160,000 after buying an additional 128 shares during the last quarter. Montecito Bank & Trust increased its position in shares of Starbucks by 5.7% during the third quarter. Montecito Bank & Trust now owns 7,122 shares of the coffee company’s stock worth $650,000 after purchasing an additional 382 shares in the last quarter. 1900 Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth about $264,000. DAVENPORT & Co LLC increased its position in shares of Starbucks by 1.1% during the third quarter. DAVENPORT & Co LLC now owns 104,843 shares of the coffee company’s stock worth $9,569,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Park Place Capital Corp increased its position in shares of Starbucks by 5.0% during the third quarter. Park Place Capital Corp now owns 7,701 shares of the coffee company’s stock worth $703,000 after purchasing an additional 364 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. BTIG Research dropped their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. BMO Capital Markets dropped their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, January 16th. Morgan Stanley dropped their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, TD Cowen reiterated a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $106.68.

Starbucks Stock Performance

SBUX stock traded down $0.23 on Tuesday, reaching $87.95. The company had a trading volume of 3,723,387 shares, compared to its average volume of 8,396,831. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The company’s fifty day moving average is $90.80 and its 200 day moving average is $94.42. The company has a market cap of $99.58 billion, a P/E ratio of 23.53, a PEG ratio of 1.42 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 4.01 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 7,000 shares of company stock worth $629,738. Insiders own 1.98% of the company’s stock.

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.