Huntington National Bank Sells 3,520 Shares of Starbucks Co. (NASDAQ:SBUX)

Huntington National Bank decreased its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,789 shares of the coffee company's stock after selling 3,520 shares during the period. Huntington National Bank's holdings in Starbucks were worth $7,828,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Financial Life Planners bought a new position in Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC bought a new position in Starbucks during the fourth quarter valued at $26,000. Collier Financial bought a new position in Starbucks during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks during the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC purchased a new position in Starbucks during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBUX. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Robert W. Baird restated a "neutral" rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday. Finally, UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.12.

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Starbucks Price Performance

NASDAQ SBUX traded up $2.33 during trading hours on Tuesday, hitting $82.33. The company's stock had a trading volume of 6,590,735 shares, compared to its average volume of 11,268,564. The company's 50 day simple moving average is $104.91 and its two-hundred day simple moving average is $99.29. The company has a market cap of $93.52 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's payout ratio is 78.71%.

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.