Security National Bank Raises Holdings in Starbucks Co. (NASDAQ:SBUX)


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Security National Bank lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,039 shares of the coffee company’s stock after purchasing an additional 974 shares during the period. Starbucks comprises approximately 2.1% of Security National Bank’s holdings, making the stock its 19th biggest holding. Security National Bank’s holdings in Starbucks were worth $7,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Starbucks by 1.3% during the 4th quarter. FMR LLC now owns 20,416,742 shares of the coffee company’s stock worth $2,184,183,000 after purchasing an additional 259,981 shares in the last quarter. Morgan Stanley grew its stake in Starbucks by 6.9% in the 4th quarter. Morgan Stanley now owns 13,603,582 shares of the coffee company’s stock worth $1,455,309,000 after acquiring an additional 881,073 shares during the period. Wells Fargo & Company MN grew its stake in Starbucks by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,750,720 shares of the coffee company’s stock worth $1,257,092,000 after acquiring an additional 230,070 shares during the period. Norges Bank purchased a new stake in Starbucks in the 4th quarter worth approximately $1,244,400,000. Finally, Fundsmith LLP grew its stake in Starbucks by 0.6% in the 4th quarter. Fundsmith LLP now owns 10,441,081 shares of the coffee company’s stock worth $1,116,987,000 after acquiring an additional 58,866 shares during the period. 67.27% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on the stock. Oppenheimer lifted their target price on shares of Starbucks from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, December 10th. BTIG Research raised shares of Starbucks from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Monday, March 22nd. Barclays lifted their price target on shares of Starbucks from $122.00 to $125.00 in a report on Wednesday, January 27th. Morgan Stanley lifted their price target on shares of Starbucks from $106.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, January 27th. Finally, Stephens lifted their price target on shares of Starbucks from $86.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, December 10th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Starbucks has an average rating of “Buy” and a consensus price target of $107.22.

In other news, CEO Kevin R. Johnson sold 170,000 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $111.07, for a total value of $18,881,900.00. Following the completion of the sale, the chief executive officer now owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin R. Johnson sold 153,290 shares of the business’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $109.12, for a total transaction of $16,727,004.80. The disclosure for this sale can be found here. Insiders sold a total of 406,184 shares of company stock worth $44,685,798 in the last quarter. 0.41% of the stock is currently owned by company insiders.

SBUX stock traded up $0.68 during trading on Thursday, reaching $113.87. The stock had a trading volume of 105,901 shares, compared to its average volume of 6,578,707. Starbucks Co. has a 1-year low of $68.54 and a 1-year high of $113.82. The company has a market capitalization of $134.06 billion, a P/E ratio of 147.00, a PEG ratio of 2.67 and a beta of 0.82. The firm has a fifty day moving average price of $107.10 and a 200 day moving average price of $99.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Monday, January 25th. The coffee company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the business posted $0.79 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 2.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Thursday, May 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.58%. Starbucks’s dividend payout ratio is currently 153.85%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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