Busey Bank Sells 4,520 Shares of Starbucks Co. (NASDAQ:SBUX)

Busey Bank decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,335 shares of the coffee company’s stock after selling 4,520 shares during the quarter. Busey Bank’s holdings in Starbucks were worth $8,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Regal Investment Advisors LLC grew its stake in Starbucks by 19.8% in the second quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock worth $770,000 after purchasing an additional 1,634 shares in the last quarter. Truist Financial Corp grew its stake in Starbucks by 21.8% in the second quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock worth $62,816,000 after purchasing an additional 144,516 shares in the last quarter. 3Chopt Investment Partners LLC bought a new position in Starbucks in the second quarter worth approximately $316,000. Farmers National Bank grew its stake in Starbucks by 4.7% in the second quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock worth $4,763,000 after purchasing an additional 2,737 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the second quarter worth approximately $25,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on SBUX shares. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wedbush upped their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.52.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade 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 the SEC website. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

Shares of Starbucks stock opened at $108.58 on Thursday. The stock has a market capitalization of $123.11 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The business has a 50-day moving average of $95.70 and a 200 day moving average of $92.89. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.08.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the business earned $0.90 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued 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 2.25%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.