Stock Yards Bank & Trust Co. Sells 5,631 Shares of Starbucks Corporation $SBUX

Stock Yards Bank & Trust Co. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,311 shares of the coffee company’s stock after selling 5,631 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Starbucks were worth $5,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks during the second quarter worth $25,000. Transce3nd LLC grew its holdings in Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after acquiring an additional 200 shares during the period. Chelsea Counsel Co. bought a new position in shares of Starbucks in the 2nd quarter worth about $26,000. MTM Investment Management LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at about $28,000. Finally, PFS Partners LLC boosted its position in shares of Starbucks by 457.4% during the 3rd quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Starbucks Trading Up 0.7%

Starbucks stock opened at $93.66 on Wednesday. The firm has a market capitalization of $106.50 billion, a price-to-earnings ratio of 57.11, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The firm’s fifty day moving average price is $86.37 and its two-hundred day moving average price is $87.01. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.6%. Starbucks’s dividend payout ratio is 151.22%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research analyst reports. TD Cowen reiterated a “hold” rating and issued a $84.00 target price on shares of Starbucks in a report on Monday, December 1st. Mizuho set a $86.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a research report on Friday, January 9th. Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Finally, Zacks Research lowered shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.00.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.