PNC Financial Services Group Inc. Purchases 5,930 Shares of Starbucks Co. (NASDAQ:SBUX)

PNC Financial Services Group Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 955,624 shares of the coffee company's stock after purchasing an additional 5,930 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Starbucks worth $93,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC lifted its holdings in Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company's stock valued at $401,000 after buying an additional 385 shares during the period. Pitcairn Co. grew its position in shares of Starbucks by 3.1% during the 1st quarter. Pitcairn Co. now owns 12,394 shares of the coffee company's stock worth $1,133,000 after buying an additional 369 shares during the period. Evermay Wealth Management LLC increased its stake in shares of Starbucks by 88.2% in the 1st quarter. Evermay Wealth Management LLC now owns 1,048 shares of the coffee company's stock valued at $96,000 after acquiring an additional 491 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at approximately $207,000. Finally, EntryPoint Capital LLC boosted its stake in Starbucks by 47.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,765 shares of the coffee company's stock worth $161,000 after acquiring an additional 569 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.1 %

Shares of NASDAQ SBUX traded down $0.09 during trading on Wednesday, hitting $98.26. 7,526,552 shares of the company traded hands, compared to its average volume of 11,104,876. The company has a 50-day moving average price of $97.01 and a 200-day moving average price of $86.70. The firm has a market capitalization of $111.35 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $104.68.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date is Friday, November 15th. 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%. Starbucks's payout ratio is 73.72%.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company's stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company's stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. DZ Bank cut shares of Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Evercore ISI upgraded Starbucks from an "in-line" rating to an "outperform" rating and increased their price target for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Finally, Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.81.

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.