Sanibel Captiva Trust Company Inc. Sells 6,426 Shares of Starbucks Co. (NASDAQ:SBUX)

Sanibel Captiva Trust Company Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 275,326 shares of the coffee company's stock after selling 6,426 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Starbucks were worth $25,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Howard Financial Services LTD. bought a new stake in Starbucks in the 4th quarter valued at $242,000. Verity & Verity LLC lifted its holdings in shares of Starbucks by 8.8% in the fourth quarter. Verity & Verity LLC now owns 119,488 shares of the coffee company's stock valued at $10,903,000 after purchasing an additional 9,666 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in shares of Starbucks by 1.2% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 12,157 shares of the coffee company's stock worth $1,109,000 after buying an additional 150 shares during the period. O Keefe Stevens Advisory Inc. grew its holdings in shares of Starbucks by 43.4% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 7,507 shares of the coffee company's stock worth $685,000 after buying an additional 2,272 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in Starbucks by 5.7% in the 4th quarter. Brooklyn Investment Group now owns 5,653 shares of the coffee company's stock valued at $516,000 after buying an additional 304 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company's stock, 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 SEC, which is available through this hyperlink. Corporate insiders own 1.98% of the company's stock.

Starbucks Stock Up 0.7 %

Shares of NASDAQ:SBUX traded up $0.70 during trading on Friday, reaching $95.13. 8,361,293 shares of the company traded hands, compared to its average volume of 7,954,453. The firm has a market capitalization of $107.86 billion, a PE ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company's 50 day moving average is $95.84 and its two-hundred day moving average is $91.60.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 annualized dividend and a yield of 2.56%. Starbucks's dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Redburn Atlantic reissued a "sell" rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Barclays decreased their price objective on Starbucks from $110.00 to $108.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average target price of $103.92.

Starbucks 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.