Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Community Bank N.A.

Community Bank N.A. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,741 shares of the coffee company’s stock after acquiring an additional 2,451 shares during the quarter. Community Bank N.A.’s holdings in Starbucks were worth $2,899,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter valued at $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Starbucks during the second quarter valued at about $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SBUX shares. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Finally, Wedbush decreased their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly 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. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.9 %

Shares of NASDAQ SBUX opened at $102.46 on Monday. The stock has a market cap of $116.17 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.00 and a beta of 0.97. The firm’s 50-day simple moving average is $97.63 and its 200 day simple moving average is $88.10. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. Starbucks’s dividend payout ratio is 73.72%.

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.