Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ledyard National Bank

Ledyard National Bank trimmed its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 65.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 13,753 shares of the coffee company's stock after selling 26,138 shares during the period. Ledyard National Bank's holdings in Starbucks were worth $1,341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP lifted its stake in Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock worth $260,870,000 after acquiring an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Starbucks during the 2nd quarter valued at about $243,910,000. Flossbach Von Storch AG grew its position in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company's stock valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Starbucks during the first quarter worth about $257,721,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company's stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company's stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company's stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

SBUX traded up $0.37 on Tuesday, hitting $96.82. 6,608,393 shares of the company were exchanged, compared to its average volume of 11,344,309. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $109.67 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The business's fifty day moving average is $95.31 and its 200 day moving average is $84.80.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company's revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. Analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.52%. This is an increase from Starbucks's previous quarterly dividend of $0.57. Starbucks's payout ratio is 62.81%.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Stifel Nicolaus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Wedbush restated a "neutral" rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Evercore ISI upgraded Starbucks from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and a consensus target price of $102.40.

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.