Rockland Trust Co. Acquires 10,425 Shares of Starbucks Co. (NASDAQ:SBUX)

Rockland Trust Co. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 285,774 shares of the coffee company's stock after buying an additional 10,425 shares during the quarter. Starbucks accounts for about 1.3% of Rockland Trust Co.'s holdings, making the stock its 25th biggest holding. Rockland Trust Co.'s holdings in Starbucks were worth $26,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Riverview Trust Co boosted its position in shares of Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company's stock worth $312,000 after purchasing an additional 105 shares in the last quarter. Essex Savings Bank grew its holdings in shares of Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company's stock valued at $707,000 after buying an additional 112 shares during the last quarter. Virtue Capital Management LLC increased its holdings in Starbucks by 1.7% during the 3rd quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company's stock worth $674,000 after purchasing an additional 115 shares in the last quarter. DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after buying an additional 121 shares in the last quarter. Finally, Childress Capital Advisors LLC grew its holdings in shares of Starbucks by 4.8% in the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company's stock valued at $266,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 0.0 %

NASDAQ:SBUX traded up $0.01 on Wednesday, reaching $93.08. 4,552,904 shares of the stock traded hands, compared to its average volume of 6,631,214. The company has a market capitalization of $105.53 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.86 and a beta of 0.99. The company's fifty day simple moving average is $95.98 and its 200 day simple moving average is $91.34. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for 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 company's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. Equities analysts anticipate that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. Starbucks's payout ratio is 73.72%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wedbush lowered their price objective on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. TD Cowen reiterated a "buy" rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Barclays dropped their target price on Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada assumed coverage on Starbucks in a research note on Friday, November 15th. They set an "outperform" rating and a $115.00 price objective on the stock. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and reduced their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.77.

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.