Huntington National Bank Sells 6,350 Shares of Starbucks Co. (NASDAQ:SBUX)

Huntington National Bank lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,309 shares of the coffee company's stock after selling 6,350 shares during the period. Huntington National Bank's holdings in Starbucks were worth $8,707,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock valued at $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company's stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on SBUX shares. Wedbush dropped their price objective on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Jefferies Financial Group downgraded shares of Starbucks from a "hold" rating to an "underperform" rating and decreased their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Finally, Evercore ISI upgraded Starbucks from an "in-line" rating to an "outperform" rating and upped their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and an average target price of $102.81.

Starbucks Trading Down 0.2 %

Starbucks stock traded down $0.20 during mid-day trading on Friday, hitting $98.42. The stock had a trading volume of 8,119,296 shares, compared to its average volume of 11,147,972. The firm's 50 day moving average is $96.60 and its 200 day moving average is $86.12. The firm has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business's revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a boost from Starbucks's previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks's payout ratio is presently 73.72%.

About Starbucks

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.