Independence Trust CO Buys Shares of 3,610 Starbucks Co. (SBUX)

Independence Trust CO bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,610 shares of the coffee company’s stock, valued at approximately $207,000.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Financial Group Inc. bought a new stake in Starbucks during the 3rd quarter valued at approximately $111,000. Gradient Investments LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $117,000. Horan Capital Advisors LLC. bought a new stake in Starbucks during the 3rd quarter valued at approximately $131,000. Front Row Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $136,000. Finally, Stonehearth Capital Management LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $142,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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Several research firms have commented on SBUX. UBS set a $66.00 price target on Starbucks and gave the company a “buy” rating in a report on Thursday, March 15th. Zacks Investment Research cut Starbucks from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Vetr cut Starbucks from a “buy” rating to a “hold” rating and set a $60.26 price target for the company. in a report on Monday, March 12th. BidaskClub raised Starbucks from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, BMO Capital Markets upped their price target on Starbucks to $58.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Thirteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.63.

In related news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares in the company, valued at approximately $2,126,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig Weatherup sold 59,838 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 247,664 shares of company stock worth $14,243,602. 3.40% of the stock is owned by corporate insiders.

SBUX stock opened at $56.31 on Friday. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $82,185.43, a P/E ratio of 18.58, a PEG ratio of 1.62 and a beta of 0.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the prior year, the firm posted $0.52 EPS. Starbucks’s quarterly revenue was up 5.9% compared to the same quarter last year. research analysts predict that Starbucks Co. will post 2.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.13%. Starbucks’s payout ratio is presently 39.60%.

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Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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